In a massive financial development related to IPL 2020, the title sponsors of the league, VIVO has pulled out of their deal for one year. As per Vikrant Gupta of Sports Tak, VIVO will not sponsor IPL 2020. Instead, it will resume its deal in 2021. This announcement comes after the outrage among the fans on Twitter as the IPL promoted a Chinese smartphone brand even though there is political tension going on between the two countries.
VIVO had signed a huge deal with the IPL to become the title sponsors in 2016. Pepsi held the sponsorship rights for the league, but the scandal involving Chennai Super Kings and Rajasthan Royals in 2013 prompted Pepsi to pull out of the deal.
The #ChinesePremierLeague trended on Twitter for some time because of IPL Governing Council’s decision to retain VIVO as its title sponsor. Now that the decision has been changed, Twitterati believe that it is their win and they have paid a small tribute to the Indian soldiers, who sacrificed theur lives for the country.
It is still unclear who will be the new sponsors of the IPL, but it is worth noting that there are still Chinese-funded companies associated with the IPL. Paytm and Dream11 are the biggest names in the list. As far as the title sponsors are concerned, there is a possibility that an Indian company would be offered the rights to sponsor the tournament.
While BCCI has not listed out any potential candidate, the likes of Jio, Patanjali, and other big Indian companies might be interested in growing their brands by associating themselves with the grandest T20 cricket tournament on the planet.
This announcement from BCCI has received a positive response from the fans on Twitter.
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