IndiaIPL NewsLatest News

IPL 2020: After VIVO’s exit, BCCI in search of a profitable title sponsor

Rising tensions on the Indo-China border are pushing for a boycott of Chinese goods in the country. The Indian Premier League (IPL) and The Board of Control for Cricket in India (BCCI) have been criticized for announcing that VIVO will continue as the title sponsor. After that, VIVO withdrew from the title sponsor of this year’s IPL.

“The BCCI and VIVO mobile India Pvt Ltd have decided to suspend their partnership in the Indian Premier League this year,” the BCCI spokesperson said in a statement. Therefore, the BCCI is in a dilemma. BCCI will have to bear a loss of Rs 440 crore due to withdrawal of VIVO. So the BCCI is struggling to find a new title sponsor. Although JIO is not in the lead, they could face two more.

It was announced at the Governing Council meeting that the IPL would be held from September 19 to November 10. Vivo India had won the title of IPL in 2017 for Rs 2199 crore. Accordingly, the IPL gets Rs 440 crore a year from Vivo. Pepsi was previously the title sponsor of the IPL and paid Rs 396 crore in 2016. Vivo still has a three-year contract left. Accordingly, in 2021, 2022 and 2023, Vivo will return as the title sponsor of IPL.

But, the names of Reliance Jio, Coca Cola, Byjus and Amazon are coming forward for the title sponsor of this year’s IPL. Of these, Mukesh Ambani’s who is also a part of JIO is rumored to be in the lead. Prime Minister Narendra Modi’s call for self-reliance fits the JIO company well.

Preliminary discussions have taken place between the BCCI and the JIO, but no final decision has been taken yet. Byju’s is also discussing with BCCI. Byiju’s has claimed the rights of Team India’s jersey sponsor. It is also the main sponsor of Kolkata Knight Riders. KKR co-owner Shah Rukh Khan is also Byiju’s brand ambassador. But, no one is willing to pay the amount of Rs 440 crore given by VIVO. Therefore they want a discount in the amount to sponsor IPL.  

Current / Upcoming Series: IPL 2020 | IND vs AUS | PAK vs ZIM | T20 World Cup
Back to top button