Vivo set to stop, new title sponsor probably

New Delhi, August 4

Chinese cell phone firm Vivo is more likely to pull out because the IPL’s title sponsor for this yr and is in talks with the BCCI for an “amicable separation” amid rising Sino-India diplomatic tensions.

“Yes, the discussions are on between BCCI office-bearers (president Sourav Ganguly and secretary Jay Shah) with the representatives of the company. There is a possibility that Vivo will not be title sponsors for one year,” a senior BCCI official mentioned on the situations of anonymity.

The one-year pullout might be handled as a moratorium interval and if the relations enhance, BCCI might have a look at inking a recent three-year take care of the corporate from 2021 to 2023 on revised phrases. The IPL will likely be held within the UAE from September 19 to November 10 this yr.

Chinese sponsorship turned a bone of rivalry after the BCCI declared it will assessment the offers following the violent clashes between the armies of the 2 international locations in japanese Ladakh in June.

While the IPL Governing Council on Sunday retained all of the sponsors, together with Vivo — which yearly pays Rs 440 crore roughly as a part of a five-year deal lasting until 2022 — there’s a sturdy risk that the corporate would possibly half methods with the IPL for a yr.

The BCCI official mentioned that at any time when a choice is taken, will probably be amicable and the BCCI just isn’t encashing the financial institution assure supplied by Vivo. “In different circumstances, if the sponsors don’t keep commitment, BCCI can encash the bank guarantee. But here, both parties are looking at an amicable escape route,” the official mentioned. — PTI

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