The Board of Control for Cricket in India (BCCI) has officially announced that it is cutting ties with Vivo Mobile India Pvt Ltd who were going to play sponsors to the Indian Premier League (IPL) in 2020.
The decision came into light after the governing meeting between the BCCI and IPL Council members on 2nd of August. It was a mutual decision by the BCCI and Vivo.
“We (BCCI and Vivo) sat after the governing council meeting and agreed on a one-year moratorium. We will also see if their contract can be extended by one year after 2023. This issue will be settled amicably”, The Indian Express quoted a BCCI official as saying.
“We will issue a new RFP (Request For Proposal). The process will be very transparent”, an IPL council member also added to the confirmation.
Vivo, the Chinese mobile phone brand had acquired the sponsorship in 2017 for Rs. 2,199 crores for a five-year deal. That means the annual breakup of the deal would sum up to Rs. 440 per year until 2022.
The IPL is set to kick-off from September 18 and the matches will be played across UAE, Abu Dhabi and Sharjah. IPL Governing Council has almost prepared everything for the 13th edition of the cash-rich league. The officials are also hopeful of getting a sponsor this year.