BCCI to keep conditional sponsorship with Vivo
Chinese mobile manufacture company Vivo has been the largest sponsor of Indian Premier League IPL for couple of years. But with the increasing tension at the india- China border, BCCI decided to keep conditional sponsorship with Vivo.
After the violent June 15 clash between Indian and Chinese soilders in eastern Ladakh, the central government has banned 59 Chinese apps. As there are protest ongoing to stop using Chinese product, therefore BCCI had stated that there would be a review of the IPL sponsors. But the date of the review meeting has not been decided yet.
“We still don’t know about fate of T20 World Cup, Asia Cup, so how can we just have a meeting? Yes, we need to discuss sponsorship but we never used the word cancel or terminate,” a senior BCCI official stated.
“We said we will review sponsorship. Review means that we need to check all the modalities of the contract. If the ‘Exit Clause’ favours VIVO more, why should we terminate a Rs 440 crore per year contract. We will only terminate if ‘Exit Clause’ favours us,” he added.
The BCCI are in the terms, if VIVO backs out on its own in prevailing circumstances, the board should honour the existing contract, which has the tenure upto 2022. But If the contract gets cancelled then BCCI will face a great loss.
On the other hand, BCCI don’t worry about the other sponsors like PayTM (with Alibaba as investor) or Dream XI, BYJUs and SWIGGY, who have investment from Chinese video game company Tencent, might not have to worry as they are Indian products.
“Taking note of the border skirmish that resulted in the martyrdom of our brave jawans, the IPL Governing Council has convened a meeting next week to review IPL’s various sponsorship deals,” the official IPL twitter handle had stated.
Although two weeks have been passed but no meeting has not been scheduled and more importantly, at least two GC members confirmed that they haven’t informed anything in the meantime.
“I have called the IPL chairman (Brijesh Patel) and CEO (Rahul Johri) after I saw the tweet. But till date, I haven’t been intimated about any meeting. Possibly, they want to have a big meeting once the T20 World Cup is officially postponed,” one of the veteran GC members said.