BCCI to review IPL sponsorship deal with VIVO after China clashes
MUMBAI: The Board of Control for Cricket In India (BCCI) has determined to overview IPL sponsorship offers, together with one with Chinese cell phone producer VIVO, after 20 Indian troopers have been killed in a skirmish in Galwan Valley in japanese Ladakh not too long ago.
Taking word of the border skirmish that resulted within the martyrdom of Indian troopers, the IPL Governing Council has convened a gathering subsequent week to overview IPL’s varied sponsorship offers.
The assembly of the IPL Governing Council will overview the yearly Rs 440 crore title sponsorship cope with Vivo amongst others.
Taking to Twitter, BCCI wrote, “Taking note of the border skirmish that resulted in the martyrdom of our brave jawans, the IPL Governing Council has convened a meeting next week to review IPL`s various sponsorship deals.”
Taking word of the border skirmish that resulted within the martyrdom of our courageous jawans, the IPL Governing Council has convened a gathering subsequent week to overview IPL’s varied sponsorship offers
— IndianPremierLeague (@IPL) June 19, 2020
For these unaware, VIVO is the title sponsor of the Indian Premier League.
In 2017, Chinese cell phone producer Vivo had retained the title sponsorship rights of the Indian Premier League (IPL) for a interval of 5 years.
The Chinese agency gained the rights for a whopping quantity of Rs. 2199 crores, which is roughly Rs. 440 crore per 12 months, 4 occasions greater than what they have been paying earlier.
The earlier title rights deal, signed in 2015 for a two-year interval, had price the corporate Rs. 200 crores.
The Board of Control for Cricket in India (BCCI) had invited purposes by means of its Invitation to Tender course of from events to bid for the title sponsorship rights, beginning August 1, 2017 and ending on July 31, 2022.
Indian actual property main DLF has gained the first-ever title rights of the IPL in 2008 for Rs. 40 crore every year for a interval of 5 years. Beverage large PepsiCo gained the subsequent bid in 2012 and signed a five-year deal value Rs. 396 crores.
However, PepsiCo India terminated its contract and Vivo changed it in 2016.
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