IPL Governing Council to review sponsorship deals
The Indian Premier League (IPL) Governing Council has called for a meeting next week to discuss tournament's various sponsorship deals. The official statement comes at a time when the outrage against Chinese products is flaring up, following the stand-off in the Galwan Valley. Reportedly, IPL's yearly title sponsorship deal with Vivo will be reviewed in the meeting. Here is more.
Here is the official statement
"Taking note of the border skirmish that resulted in the martyrdom of our brave jawans, the IPL Governing Council has convened a meeting next week to review IPL's various sponsorship deals," IPL's official Twitter handle tweeted.
The official post on Twitter
Taking note of the border skirmish that resulted in the martyrdom of our brave jawans, the IPL Governing Council has convened a meeting next week to review IPL’s various sponsorship deals 🇮🇳— IndianPremierLeague (@IPL) June 19, 2020
Board not looking to end ties with Vivo
On Thursday, BCCI treasurer Arun Dhumal said the board may review sponsorship policy, but has no plans to end the ties with IPL's title sponsor. "When you talk emotionally, you tend to leave the rationale behind. We have to understand the difference between supporting a Chinese company for a Chinese cause or taking help from a Chinese company to support India's cause," Dhumal said.
Chinese investments in Indian cricket
In 2018, the Chinese mobile phone brand 'Vivo' bagged the sponsorship rights for five years for Rs 2,199 crore (Rs 440 crore annually). Yet another Chinese brand 'Oppo' was sponsoring the Indian cricket team until September last year, when 'Byju's' replaced it. Online fantasy entity Dream11, which is an associate sponsor of BCCI and IPL, also has a Chinese investment.
The sponsorship is supporting India's cause
Dhumal explained how the sponsorship is working in India's favor. "When we are allowing Chinese companies to sell their products in India, whatever money they are taking from Indian consumer, they are paying part of it to the BCCI and the board is paying 42 per cent tax on that money to the Indian government. So, that is supporting India's cause," he argued.