The chinese firm VIVO is no longer to sponsor IPL. VIVO pulled itself out from the sponsorship title of Indian Premier League (IPL).
The BCCI on Sunday announced that all sponsors retained. But VIVO pulled out following criticism on social media in the backdrop of the clashes between Indian and Chinese troops in Ladakh in June.
VIVO had paid Rs 2,199 crore for a five-year contract in 2018.VIVO has pulled out as the title sponsor of Indian Premier League (IPL) , following backlash on social media.
It represented a massive 454% jump on the title contracts held in the 2012-17 cycle. It meant that BCCI stood to receive approximated INR 440 crores per season of the IPL, which it will now have to recoup.
IPL 2020 will take place from 19th September and the final will be on 10th November 2020. The 53-day tournament will witness 10-afternoon matches starting at 15:30 IST while the evening matches will start at 19:30 IST.
“The Indian Premier League Governing Council (IPL GC) met today. Via video-conference to decide on the issues concerning the VIVO IPL 2020 edition. They shall take the note of the prevailing COVID-19 situation in India, the IPL GC decided to stage the tournament in the United Arab Emirates (UAE) and the matches will be played in Dubai, Sharjah and Abu Dhabi subject to necessary clearances from the Government of India,” BCCI had said in a press release.