IPL & Vivo to part ways as fresh deal in the offing: On Monday evening, a leading Indian Premier League franchise called up the other seven franchises to provide the information about Vivo India is on the verge of exiting. Vivo India is the title sponsors of the Indian Premier League (IPL). This leading IPL franchise is already fighting fiercely to claim compensation from BCCI to get over the loss of gate money in UAE this year.
2020 IPL – Vivo Set to Exit IPL 2020
Vivo expected exit as the title sponsors become clear in less than twelve hours, which leads to panic in the IPL fraternity. On Sunday, the IPL Governing Council said that it would be retaining all its sponsors for the 2020 session tournament. Vivo India is the local arm of the Chinese mobile, is in the middle of the social media storm after the IPL Governing Council announcement.
As per the source’s confirmation, it looks certain now that the Vivo India is going to have an exit from the IPL tournament this year. But the chapping of existing of Vivo India from the tournament depends on the negotiation between the BCCI and Vivo.
The call for the ban on Chinese goods and companies is getting louder in the country due to which BCCI and the IPL Governing Council have faced many criticisms. After the Indian Government has banned a specific number of Chinese apps, the BCCI and IPL Governing council were criticized for deciding not to cut ties with the Vivo India, the Chinese company. The people of the country have been talking about cutting all trade ties with the chines app after the Indian Government chines app banning decision was taken.
BCCI In the Hunt for New Sponsor:
According to BCCI, it takes the general sentiment of the Indian cricket fans seriously and due to which it is planning to do away with the title sponsor Vivo India. As part of the central revenue pool, the sponsor Vivo India was bringing an approximate Rs 440 crore per year to the IPL.
BCCI marketing tool will start looking for the replacement sponsor after the exit of the title sponsor Vivo India gets official. In the coming days, the BCCI is going to pay serious attention and focus on finding a suitable replacement for the title sponsor Vivo India. The existence of the title sponsor Vivo India s confirmed, but it is not sure that the existing is for the permanent or temporary.
Vivo India captured the IPL title sponsorship in 2017 for Rs 2199 crore, and it had committed to pay Rs440 crore every season, and the deal was for five years. The contractual obligation between Vivo India and IPL could only be resolved through a conversation.
The negativity towards the brand that has been created in the Indian market is likely to make Vivo walk out of the contract through negotiation. But now the main focus of IPL is to get the title sponsor’s replacement for the IPL 2020 session.