VIVO terminated their IPL sponsorship contract amid growing anti-China sentiments in India.
Amazon and several other Indian companies are leading the race to be the next title-sponsor for IPL.
The apex cricketing body, BCCI, on Thursday (August 06), finally confirmed that the Chinese mobile-maker VIVO has pulled out its name as the title sponsor for this year’s Indian Premier League (IPL).
India and China are at loggerheads following a border skirmish in Galwan Valley. Since the clash, a strong anti-China sentiment rules over the Indian people, as they publicly advocate boycotting Chinese products and applications.
BCCI too faced a fierce public backlash after they decided to go ahead with VIVO as the leading sponsor. It is believed that the company broke the deal after sensing negative publicity around its name.
VIVO paid over INR 400 crores per year as per the contract. And now, just over a month before the tournament, with a dwindling economy, it looks like BCCI might have to settle for a relatively lower amount.
According to a report in the national daily, Times of India (TOI), even if the BCCI gets the next title sponsor at one-third of what VIVO was supposed to pay, it would be a win-win situation for the bord.
“In fact, it’s a win for BCCI even if they get a title sponsor at 1/3rd the value and two official partners to somewhat make up for the pool. Expect Vivo’s Rs 440-odd cr pool to scale down to around Rs 180 cr and that, mind you, will be a win for BCCI in this market,” TOI quoted sources as saying.
The same report further revealed that Amazon is leading the race for the title sponsor to capitalise on the upcoming festive season. Indian startups like Byjus, Unacademy and the fantasy sports app Dream 11 are not far behind in the race of securing 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,” the source added.
“That’s where there’s space for an Unacademy or a MyCircle11 to walk in as official partners. If Dream 11 take the title, Unacademy can step in as official partners. If Byju’s take the title, MyCircle11 can come in. Brands won’t be conflicted,” the report added further.