Chinese mobile maker Vivo will return to sponsor IPL this season after its attempts to transfer rights to another company failed because the offers fell short of its “expectations.”
Vivo’s sponsorship deal with BCCI, worth Rs 440 crore per year, was suspended last season due to the stalemate at the Sino-Indian border following a violent clash in the east of Ladakh.
“… The offer made by Dream11 and Unacademy was not up to Vivo’s expectations this year, so they decided to take it on their own and explore next year,” a source said. BCCI to PTI.
Dream11 had been the IPL’s main sponsor for the 2020 edition, winning the rights to Rs 222 crore, almost half of what Vivo paid annually for a five-year contract.
Vivo won the sponsorship rights of the IPL title for five years from 2018 to 2022 for a reported sum of Rs 2,190 crore.
Anti-Chinese sentiment in the country peaked after the violent confrontation between Indian and Chinese troops in the Galwan Valley. India lost 20 soldiers in the clash, while China also admitted unspecified losses.
The Real Line of Control (LAC) showdown has sparked outrage across India with several calls to boycott Chinese companies and products.
It is against this backdrop that Vivo and BCCI decided to suspend the agreement for the 2020 season, which was held in the UAE due to the COVID-19 pandemic.
Half of the annual Vivo sponsorship money is split evenly among eight franchises, which amounts to Rs 27.5 crore.