NEW DELHI, Jul 1: The BCCI is unlikely to sever ties with IPL title sponsors VIVO if the “exit clause” favours the Chinese mobile phone company, a senior BCCI official said on Wednesday but did not reveal when the event’s much-hyped governing council meeting to review this will be held.
After the violent June 15 clash in eastern Ladakh, the central government has banned 59 apps from China including the controversial Tik ToK. Soon after the June 15 incident, the BCCI had stated that there would be a review of the IPL sponsors.
“We still don’t know about fate of T20 World Cup, Asia Cup, so how can we just have a meeting? Yes, we need to discuss sponsorship but we never used the word cancel or terminate,” a senior BCCI official, who also sits in IPL GC meetings, told PTI on conditions of anonymity.
“We said we will review sponsorship. Review means that we need to check all the modalities of the contract. If the ‘Exit Clause’ favours VIVO more, why should we terminate a Rs 440 crore per year contract. We will only terminate if ‘Exit Clause’ favours us,” he added.
It is learnt, some BCCI officials are of the view that unless VIVO backs out on its own in prevailing circumstances, the board should honour the remainder of the contract, which ends in 2022.
Sudden termination of contract could mean that BCCI may have to cough up substantial compensation.
Also, there is no guarantee that BCCI will get a short-time matcher in such an economically hostile environment.
However, the likes of PayTM (with Alibaba as investor) or Dream XI, BYJUs and SWIGGY, who have investment from Chinese video game company Tencent, might not have to worry as they are Indian entities.
“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,” the official IPL twitter handle had stated on Friday, June 19.
However, after nearly two weeks, a meeting has not been scheduled and more importantly, at least two GC members confirmed to PTI that they have not been told anything.
“I have called the IPL chairman (Brijesh Patel) and CEO (Rahul Johri) after I saw the tweet. But till date, I haven’t been intimated about any meeting. Possibly, they want to have a big meeting once the T20 World Cup is officially postponed,” one of the veteran GC members said. (PTI)