Amid India-China row, the Chinese smartphone maker Vivo, which has been the sponsor for IPL since 2018, has pulled out of sponsoring the T20 tournament this year.
But interestingly, Vivo is not terminating its 5-year sponsorship program with the BCCI and will sponsor the tournament in 2021, 2022, and 2023.
There is no doubt about it that this development comes amid rising anti-China sentiments within India, and increasing backlash against Vivo being the sponsor for the Indian Premier League.
Actually, this Chinese smartphone maker had bagged the IPL title sponsorship rights for five years in 2017 for Rs 2199 crore, (approximately Rs 440 crore every season of IPL).
Notably, this year’s IPL 2020 is set to be held in the UAE, with matches being played in Dubai, Sharjah, and Abu Dhabi. As reported by Money Control, the reason behind Vivo pulling out may also have something to do with the company wanting to pay reduced amounts for the title sponsorship.
Normally, Vivo has supposed to pay Rs. 440 crore this year as part of the deal, but the company wanted a cut of Rs. 130 crore citing giving the reason for poor sales due to the anti-China sentiments rising continuously across India.
IPL Governing Council spoke with PTI has said that;
“All I can say is that all our sponsors are with us. Hopefully, you can read between the lines.”
Would like to inform you that, Vivo had replaced soft-drink giants PepsiCo to enter the title sponsorship for IPL in 2017.