Vivo likely to quit as 2020 IPL title sponsors amid Indo-China diplomatic tensions
New Delhi: Chinese mobile phone company Vivo is likely to pull out as the Indian Premier League's title sponsor for this year and is in talks with the BCCI for an "amicable separation" amid rising Sino-India diplomatic tensions.
The one year pullout could be treated as a moratorium period and if the relations improve, BCCI may look at inking a fresh three-year deal with the company from 2021 to 2023 on revised terms. The IPL will be held in the UAE from September 19 to November 10 this year.
"Yes, the discussions are on between BCCI office-bearers (president Sourav Ganguly and secretary Jay Shah) with the representatives of the company. There is a possibility that Vivo will not be title sponsors for one year," a senior BCCI official told PTI on conditions of anonymity.
Chinese sponsorship became a bone of contention after the BCCI declared it would review the deals following the violent clashes between the armies of both the countries in eastern Ladakh.
The clash, which led to the killing of 20 Indian soldiers, triggered public outrage and led to calls of boycotting Chinese companies and products.
While the IPL Governing Council on Sunday retained all the sponsors, including Vivo which annually pays Rs 440 crore (approximately) as part of a five-year deal lasting till 2022, there is a strong possibility that the company might part ways for a year.
The Board official PTI spoke to said that whenever a decision is taken, it will be amicable and the BCCI is not looking at encashing the bank guarantee.
"In different circumstances, if the sponsors don't keep commitment, BCCI can encash the bank guarantee which it had earlier done in case of errant franchises. But here, both parties are looking at an amicable escape route," the official said.
There were questions raised on the BCCI's decision to retain Chinese sponsors even as the union government banned close to 60 Chinese apps and social media platforms.
"These are sensitive times and need a cautious approach. Once you had said that you will review sponsorship and then did nothing about it, would raise a question mark over your intent on dealing with the Chinese companies," the official said.
The BCCI is already in talks with a couple of Indian companies who are believed to be interested in a short-term sponsorship deal -- one year period.
"It will be difficult to make up the full amount (Rs 440 crore) in such a short time with the tournament being held overseas. Also, there won't be much traction in an empty stadium. But we will come to that once VIVO officially quits," he said.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
PM announces ex-gratia of Rs 2 lakh to next of kin of deceased in building collapse in Bengaluru
Bengaluru, Oct 24: Prime Minister Narendra Modi on Thursday announced an ex-gratia of Rs two lakh from Prime Minister's National Relief Fund to the next of kin of each deceased in the building collapse here.
Taking to 'X', office of the Prime Minister of India (PMO India) posted: "Anguished by the loss of lives due to the collapse of a building in Bengaluru. My thoughts are with all those who have lost their loved ones. I pray that the injured recover soon"
"An ex-gratia of Rs 2 lakhs from PMNRF would be provided to the next of kin of each deceased. The injured would be given Rs 50,000: PM @narendramodi," it stated.
ALSO READ: Karnataka CM announces Rs 5 lakh ex-gratia to next of kin of deceased in Bengaluru building collapse
Eight persons were killed and 13 rescued after an under-construction building collapsed at Babusapalya near Hennur on Tuesday.
The building owner, his son and contractor have been arrested in connection with the incident, police said.
Anguished by the loss of lives due to the collapse of a building in Bengaluru. My thoughts are with all those who have lost their loved ones. I pray that the injured recover soon.
— PMO India (@PMOIndia) October 23, 2024
An ex-gratia of Rs. 2 lakhs from PMNRF would be provided to the next of kin of each deceased. The…
