Mumbai: As soon BCCI on Thursday officially announced the exit of Chinese phone maker VIVO as the title sponsor of IPL 2020 via a statement. The decision seems to have been arrived at after the diplomatic tensions between India and Chine following violent clashes between their armies in Ladakh earlier this year.
A wave of boycotting Chinese product swept through India following the death of their soldiers with BCCI being criticised for not severing ties with VIVO. While the decision may pacify the critics, the board is left with a challenge to find a title sponsor in times of financial turmoil.
The deal with VIVO was around Rs 440 crore per annum for a period of five years and even if IPL manages to find a suitable sponsor, the deal is expected to be much lower which, industry experts say, will still be a win-win for BCCI.
According to the reports that e-commerce giant Amazon are leading the race to be the next title sponsor as they eye the lucrative festival season. However, the likes of learning app BYJU’s Indian cricket team’s jersey sponsor and fantasy app Dream11 are also eyeing the title rights. The BCCI is looking for partners today. If Byju’s decide to support the IPL today and rework the jersey sponsorship numbers going forward, it could be a win for them and BCCI.