Vivo withdraws from IPL 2020 |
Amid rising India-China diplomatic tensions, Chinese mobile phone company Vivo is likely to pull out as the Indian Premier League`s title sponsor for this year and is in talks with the Indian cricket board for an “amicable separation”. The official announcement is expected to be made by Thursday, but sources in the Board of Control for Cricket in India confirmed that Vivo will not be the title sponsor for IPL-13... In a day or two, the BCCI will be calling for new bids for the title sponsor this year. It will be a one-year pullout, which will be treated as a moratorium period and if the relations improve, BCCI may look at inking a fresh three-year deal with the company from 2021 to 2023 on revised terms. The IPL will be held in the UAE from September 19 to November 10 this year. Chinese sponsorship became a bone of contention after the BCCI declared it would review the deals following the violent clashes between the armies of both the countries in eastern Ladakh. Vivo annually pays 58.7 million dollars as part of a five-year deal lasting till 2022. It is understood that whenever a decision is taken, it will be amicable to both Vivo and the BCCI.
|
|
|
|