HIGHLIGHT
According to TOI, Chinese smartphone producing company VIVO, all set to make an exit as IPL title sponsor for it's 13th edition due to the negativity and outrage received on social media platform.
( Photo: Google, Vivo IPL)
On Sunday, August 2nd 2020, the IPL Governing Council confirmed the dates of IPL 2020. It made all the cricket fans happy across the country to know that IPL 2020 is finally happening in UAE after so much of barriers this year because of the COVID-19 pandemic. The tournament was initially scheduled to take place from March 29th, 2020 and unfortunately got suspended because of Coronavirus outbreak in the country.
But the things started to heat up when the news came that IPL Governing Council decided to retain all the sponsors of the event, including the Chinese Smartphone producing company VIVO. Many people were disappointed and completely angry on this decision by the IPL GC due to the current political tensions between India and China. From every part of the country, people started to slam on BCCI and government.
According to The Print, Confederation of all India Traders had written a letter to the Home Minister Amit Shah and External Affairs Minister, S. Jaishankar. It stated that, "Under the unlock advisories, holding any event is still banned. But adopting an escape route by BCCI to hold IPL in Dubai is nothing but to dodge the government”.
SJM co-convenor, Ashwani Mahajan tweeted, “ Whole world is boycotting China, IPL is sheltering them”.
So why BCCI cannot take down VIVO as the title Sponsor of IPL?
VIVO pays BCCI almost 440 crores per year for the title sponsorship. BCCI distributes the revenue from the IPL to eight franchises. Also the 42 % of it goes to the Government. From all the media rights and other sponsorships, BCCI left with two thousand crore as income. So with that much money, BCCI can easily let the exit of the Chinese Company VIVO.
But, they cannot. In 2018, VIVO had secured the title sponsorships for the best t20 tournament in the world for five years. And if BCCI calls to let them go, the exit clause in the contract favours the Chinese Company. So there are also the fears of legal liabilities as well.
But now VIVO has been facing extreme criticism on social media platform and are likely to walk away from the contract for at least this season.
According to TOI, VIVO are on the way to make an exit as IPL title sponsors for this year. They will be back from 2021 and will continue till 2023. One of the leading franchises had a conversation with all the seven franchises on Monday evening to make them know about the possible exit of VIVO as title sponsors, at least for this year. They all are in a concern to claim compensation from BCCI now.
So now, should the VIVO exit be confirmed? BCCI should surely look for a replacement of
VIVO as soon as possible.
( Information covered from TOI and The Print)
Comments