VIVO Pulls Out of IPL 2020 Next Day After Confirmation

VIVO, one of the leading mobile brands who was the title sponsor of Indian Premier League has pulled out from the deal after it was confirmed that VIVO will be this year’s title sponsor on Monday.

The Galwan border dispute between Indian and the Chinese army which led to the death of 20 Indian soldiers has stirred great tension in both the countries. Due to this, fans have petitioned the Board of Control for Cricket in India (BCCI) to remove Chinese sponsors from the tournament.

These negative comments and reactions have made VIVO to pull out of the league one and half months before the game. Other sponsors like Realme, Oppo, Xiaomi which has invested 500 Crores for advertisements in the tournaments have also pulled back due to this issue. This sponsorship will affect the revenue of Star Sports around 15%-20% as Chinese brands contribute to 20% to 25% of the advertisements.

Harish Bijoor, the founder of Bijoor Consults Inc, said, “Nationalism, as a mass sentiment, is a powerful force. I believe brands have to bite into this reality. The best strategy for Chinese brands right now is to lie low, especially on a popular property like IPL.”

VIVO has broken a 440 Crore deal with BCCI and now BCCI has to find another huge sponsor to make up for this loss and start the league by September on the announced date.