After Vivo's exit, BCCI might have to settle for 300 instead of 440-crore annual deal ahead of IPL 2020

Ahead of the thirteenth edition of the much-awaited IPL, the BCCI received a major setback as their title sponsor Vivo pulled out of the upcoming edition. During the IPL Governing Council meeting on Sunday, it was decided that the BCCI would be retaining all its sponsors including Vivo for the upcoming IPL edition.

However, fans bashed the Indian board to continue with Vivo at a time when India’s relationship with China has turned sour. There was recently a huge outrage across the country when 20 Indian soldiers attained martyrdom during a stand-off between India and China in the Galwan valley. The Indian government also banned 59 Chinese apps in the wake of the incident. Amid the controversy and tension between India and China, Vivo decided to part its ways with the Indian board on Tuesday, just weeks before the tournament.

The BCCI was to receive a huge sum of Rs 440 crore annually from Vivo but the lucrative deal has gone down the drain before the start of IPL 2020. However, considering the popularity and reach of the IPL, the Indian board is likely to be approached by many brands for the title sponsorship.

Vivo might return as the title sponsor in 2021

However, as reported by Money Control, the BCCI might not be able to get a sponsor which would pay the amount equivalent to Vivo. They might have to settle for a maximum amount of 300 crores for the upcoming edition. Sandeep Goyal, Chairman, Mogae Media, told Money Control that while BCCI might not be able to get 440 crores, the Indian board is expected to land up a new sponsor soon before the T20 extravaganza unfolds in the UAE.

“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,” Goyal told Moneycontrol.

It has also been reported that Vivo might return as the title sponsor in 2021 and the deal might be continued till 2023. At present, the main challenge in front of the BCCI is to get a title sponsor on board before IPL 2020 commences in September.