Mumbai: The Indian Premier League will have a new standalone sponsor after VIVO decided to take a break from their sponsorship commitments in 2020 amid the rising tensions between India and China at the border.
IPL 2020 will be played in the United Arab Emirates from September 19 due to the coronavirus crisis in India.
VIVO have 3 years left in their contract which they will honour in 2021, 2022 and 2023 instead.
Chinese mobile phone maker VIVO is IPL's title sponsor and it pays the BCCI Rs 440 crore annually for the 5-year deal which they bagged in 2017 by bidding a whopping Rs 2,199 crores in 2017.
In the next 3 days, the BCCI is going to float a tender for the new sponsorship.
The IPL governing council and Board of Control for Cricket in India (BCCI) faced backlash on Monday after they decided to retain the Chinese mobile company as title sponsors of IPL 2020.