Vivo cancels sponsorship deal with IPL for this year, after it faced backlash and criticism across all social media platforms
After the ongoing debate about Vivo sponsoring 13th Edition Of IPL when the border and trade tension between India and China is growing, IPL Governing Council,BCCI and Vivo on mutual agreement has decided to break the sponsorship deal for this year.
However according to latest reports, the tech giant will be again back as a title sponsor in the 14th edition of the tournament and continue till 2023. The decision to cancel the contract came after BCCI and IPL faced strong backlash across all social media platforms. The sentiments of people forced the Governing Council and the Chinese mobile manufacturing company to cancel the deal.
The backlash was so harsh that people started trending #BoycottIPL and #BoycottVivo on twitter. Both the brands couldn’t afford so much of negativity during this tough times.
The Chinese Mobile Manufacturing Company, VIVO bagged the title sponsorship rights for a whopping amount of Rs 2,199 Crore for 5 year team, paying Rs 440 Crore each year. Before VIVO, soft drinks company PepsiCo was an official title sponsor, but the later walked out of the deal in 2016.
However there some key questions, which the Board and the Governing Council needs to answer. When the tournament is on the verge of starting, the stakeholders needs to crack a proper sponsorship deal which levels the brand ‘IPL’. A big part of revenue will be missed this year because the matches can be played behind closed doors.
“Even if the Board can get a replacement at 50% of the value, it’ll be an achievement. Anything more than that will actually be a shot in the arm. Let’s hope things settle amicably. The IPL has been planned and everything’s set,” industry stakeholders said to TOI.
IPL is set to begin from September 19 in UAE with final being played on November 10. All the franchises will leave their base by 26th August, keeping minimal time of 1 month for practice.