According to the media reports, Vivo India is on the verge of pulling out of the IPL 202 season which is planned to take place in UAE.
Vivo India, the local arm of the Chinese mobile manufacturing giant is facing the heat on social media after the IPL Governing Council said that it would be retaining all its sponsors for the 2020 edition of the tournament. The BCCI and the IPL Governing Council too have faced criticism for deciding to not cut ties with the Chinese company.
Vivo India had bagged the IPL title sponsorship rights in 2017 for Rs 2199 crore, committing to pay the league approximately Rs 440 crore every season, for a five-year deal.
“Vivo is going to have to exit the league this year and that looks certain now. How that happens is going to depend on how BCCI and Vivo negotiate the matter. The company (Vivo) has had its own share of issues and the BCCI has optics to deal with, given the political climate. They have to come to some understanding here because legal options can’t be considered in this case”- TOI media reports
The Indian Traders’ body CAIT has also opposed the decision of the BCCI to retain Chinese company Vivo as the title sponsor for the Indian Premier League (IPL) to be held in Dubai. In a letter to Home Minister Amit Shah, the Confederation of All India Traders (CAIT) has demanded that the government should not give approval to BCCI for holding the IPL event.