IPL called an important meeting; Vivo's sponsorship will be discussed!
The Twitter handle of the IPL has tweeted that a meeting will be held next week to discuss about sponsorship. People have started speculating that the contract of IPL and Vivo will be terminated.
There has been a tense situation at the border of India and China in the Galvan Ghati of Ladakh for a long time. China's army is trying to penetrate inside India. Just a few days ago, a clash happened between the two armies. 20 soldiers of India were martyred in this clash. After this incident, the people of India are very angry with China. There is a demand for boycott of China all over India. In such a situation, people have demanded that the IPL also terminate the agreement with the Chinese companies. At present, the title sponsorship of IPL is with the Chinese Smartphone company Vivo.
The IPL's Twitter handle tweeted that, ‘in view of the border clash as a result of the martyrdom of our brave soldiers, the IPL Governing Council has called a meeting next week to review various sponsorship deals of the IPL.’ IPL will reconsider its sponsorship deals. People have started speculating that IPL is going to end its agreement with Chinese company Vivo. However, just 2 days ago, BCCI treasurer Arun Dhumal rejected the termination of the agreement with Vivo. Talking to news agency PTI, Arun Kumar Dhumal said, 'We often take the wrong decision in emotion. We should not do this. Chinese currency is coming to India through IPL. India has the advantage in this. Whenever an Indian person buys something of Vivo, Vivo gives some percentage of it to BCCI for brand promotion.’
Arun Kumar Dhumal further said, '42 percent of this money from the Chinese company goes to the Indian government. That is why India has an advantage in this. I am also in favor of reducing dependence on Chinese products. But as long as the government is allowing to trade Chinese companies inside India, then there is nothing wrong in making money from these Chinese companies. Sponsoring a big brand like IPL by a Chinese company is good for India and Indian economy. India is benefiting from this money and not China. We will not end the IPL and Vivo agreement in a hurry.’
It is important to know here that through the sponsorship of Vivo, the IPL gets about Rs 440 crore every year. This contract of IPL and Vivo was done for 5 years in 2018. This deal of IPL and Vivo was fixed for 2199 crores, which will end in 2022. It would be very interesting to see whether the IPL terminates its agreement with Vivo or not.
