Vivo withdraws from IPL as title sponsor for 2020: How will this affect the franchises?


Team Udayavani, Aug 11, 2020, 3:27 PM IST

Amid the backlash against Chinese companies in India, Vivo will not be the title sponsor of this year’s Indian Premier League (IPL)

Vivo had secured the IPL sponsorship rights for 2018-2022 for nearly Rs 2200 crores.

The BCCI and the franchises will face heavy financial losses this time around for a number of reasons compared to previous seasons.

Impact on franchises

Vivo was paying Rs 439.8 crore per year to BCCI as sponsorship commitment. The total revenue from the central pool is distributed between the BCCI and franchises in a 60:40 ratio

While the Indian board gets Rs 220 crore, the 8 franchises divide Rs 220 crore among themselves, with each getting about Rs 28 crore every year

Times Now reports that for every match that takes place at the home ground, the franchises would earn Rs 3 to 3.5 crore but now as the IPL is being held in UAE, the overall loss will be to Rs 21 to 24 crore for the season in terms of gate revenues only.

According to Indian Express, Vivo, in all likelihood, would seek a one-year moratorium in its sponsorship commitment, keeping the door ajar for a 2021 return. So, the Board will have to find a short-term replacement sponsor.

Also, BCCI claims, the franchises will be losing out on revenue of INR 50 crore on an average in total this season. However, Some of these losses, can be cut if the BCCI manages to strike a good sponsorship deal with a new title sponsor in the coming days.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Aircraft carrier Vikrant completes third sea trials, returns to Kochi harbour

Bihar ruling allies BJP, JD(U) spar over Emperor Asoka controversy

Clarify stand on marital rape criminalisation: Delhi HC tells Centre

Udupi Paryaya to be held without fanfare

Petrol, diesel sales fall in Jan as Omicron spreads

Mysuru: Six arrested for thrashing Dalit family for eating ‘panipuri’

JK admin takes back Kashmir Press Club premises, says it has ‘ceased to exist’


Related Articles More

If given an opportunity, it will be an honour to captain India: Jasprit Bumrah

Sen now needs to work on tactical acumen and endurance for consistent run: Vimal

A good outing in Asia Cup key to success in busy 2022, says women’s hockey VC Ekka

Sindhu looks to end title drought at Syed Modi International

KL Rahul should be made Test skipper: former BCCI secretary Sanjay Jagdale

MUST WATCH

Night Curfew : Shops, stall will close before 10pm(jan 17)

NEWS BULLETIN 17-01-2022

THE HISTORY OF KRISHNAPURA MUTT SWAMIJI

DOCTOR BEATS UP A VEGETABLE VENDOR

Vidyasagara Teertha Swamiji Paryaya Message


Latest Additions

Aircraft carrier Vikrant completes third sea trials, returns to Kochi harbour

Bihar ruling allies BJP, JD(U) spar over Emperor Asoka controversy

Clarify stand on marital rape criminalisation: Delhi HC tells Centre

Udupi Paryaya to be held without fanfare

Petrol, diesel sales fall in Jan as Omicron spreads

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.