Sensex Today


The news that the much delayed IPL 2020 edition will finally start in September certainly came as a big relief🙂 to the long-suffering cricket fans.

But the tournament which is going to be held in UAE has already attracted a major controversy😨.

The tournament organizers will soon have to find a new title sponsor for this year’s edition🗓️.

This comes after the Chinese smartphone manufacturer, VIVO decided to opt out🚫 from its sponsorship commitments.

Why it did that?

The primary reason behind Vivo’s withdrawal is the rising tensions⚔️ between India and China following the Galwan incident.

It has led to an anti-China sentiment😠 across India.

Not surprisingly, this feeling intensified when IPL’s governing council and BCCI decided ☝️to retain Vivo as this year’s title sponsor.

The most vocal opposition🗣️ against this decision came from Swadeshi Jagran Manch (SJM), an affiliate of the RSS.

It even threatened to give a boycott call.

Money matters too!

Another reason behind Vivo’s back out was its disagreement👎 with BCCI for a reduction⤵️ in the sponsorship sum due to the Covid-19 disruption.

Vivo, which enjoys the 2nd-highest share of India’s smartphone market📱, pays Rs. 440 crore annually💰 to the BCCI as the IPL’s title sponsor.

It has a 5-year deal🤝 with BCCI in this regard worth Rs. 2,200 crores.

Since Vivo has been virtually forced to skip this year’s edition, both it and BCCI have mutually agreed to extend⏩ their contract by one year till 2023.

By admin

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