Vivo, Cricket Body Dump Sponsorship Deal Amid India-China Strife
BCCI, which owns the IPL, faced criticism in recent days after it said it would retain all its sponsors for its 2020 edition.
(Bloomberg) -- One of the world’s most-followed sports franchises, Indian Premier League cricket, is the latest casualty of the India-China border clashes. It has lost its title sponsor, Chinese phonemaker Vivo.
The Board of Control for Cricket in India and Vivo Mobile India Pvt. have decided to suspend their partnership for the IPL in 2020, the BCCI said in a statement on Thursday.
The powerful BCCI, which owns the IPL, faced criticism in recent days after it said it would retain all its sponsors for its 2020 edition. Public anger against China is high after soldiers were killed in a border skirmish in June, sparking retaliation from India that banned more than 100 Chinese apps, tightened controls on Chinese imports, and made it harder for Chinese companies to invest.
Started in 2008, the IPL’s valuation has risen to $6.7 billion from $4.2 billion in 2016, according to valuation-appraisal company Duff & Phelps. It features eight franchise teams competing in a fast-paced Twenty20 version of the game. Last year’s edition was watched by a record-breaking 462 million viewers. Vivo India came on as a title sponsor for five years in 2017, replacing PepsiCo Inc. for about 22 billion rupees ($293 million). Vivo also came on as the title sponsor of another Indian sporting league, Pro Kabaddi, for a five-year period.
Chinese smartphone maker Oppo committed at the same time to give the IPL about 15 billion rupees for the same period. Both Vivo and Oppo have the same parent, Chinese electronics giant BBK Electronics, which sells smartphones from the low-end Realme brand to the higher end Opp.
This year’s IPL is scheduled to be played from mid-September in the United Arab Emirates, as India is slammed by the coronavirus pandemic.
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