BCCI received a major setback as the Chineese company VIVO being the title sponsor of IPL has pulled out from the cash rich league this year.As per the reports VIVO will return as the title sponsor in 2021 and will complete their five year contract till 2023.
It has added a huge pressure on the IPL think tank as they will have to find a new sponsor now for 2020 and it will not be easy as most of the companies are going through financial crisis at the moment due to COVID-19.
As per the BCCI officials they will have to settle for the maximum amount of 300 crores as the title sponsor for this edition of IPL. However Indian Board is expected to receive a new sponsor before the T20 tournament begins in UAE from 19th September 2020.
“BCCI won’t be able to earn the Rs 440 crore it was set to get from Vivo from another sponsor in this environment. This development is also a big blow for Star as Vivo will most probably stay away from advertising and other Chinese brands may follow suit considering the present anti-Chinese prevalent in the country right now,” BCCI officials added.
It is clear that VIVO has pulled from the title sponsor this year due to India-China row in Ladakh. They will comeback next year but the biggest challenge will be to find out the title sponsor for this edition of IPL as early as possible.
IPL 2020 is all set to scheduled in UAE from 19th September 2020 to 10th November 2020 as all the teams will be leaving for UAE after 26th August 2020 and the players will travel to UAE in Chartered planes. The matches will be played in Bio bubble environment.
