The Chinese company Vivo has decided to quit as the Title sponsor of the IPL Indian Premier League 2020 set to be held from 19th September to 10th November.
The main reasons for the decision are the China-India border tensions and Vivo’s demand of at least 30% reduction in annual sponsorship amount due to the corona virus.
In 2017, BCCI-Board of Control for Cricket in India had signed a US $330 million deal with Vivo as Title sponsor for 5 years.
Vivo was in contact with IPL authorities since outbreak of India-China tensions and coronavirus. Finally, the Vivo’s representatives had conference call with BCCI President Ganguly and IPL Chairman Patel, whereby, it was decided to terminate the sponsorship deal amicably instead of calling for force majeure.
According to reports all other IPL sponsors remain involved so far.
Vivo Communication Technology Co. Ltd., OnePlus, Oppo and RealMe are owned by Chinese BBK Electronics that designs and develops smartphones, smartphone accessories, software and online services.