The Board of Control of Cricket in Indian(BCCI) is likely to announce the new title sponsor for the Indian Premier League (IPL) Season 13 today. Earlier, BCCI has sent out a statement without giving any further details about the suspension of VIVO's partnership for IPL 2020. The press release stated, "The Board of Control for Cricket in India (BCCI) and Vivo Mobile India Pvt Ltd has decided to suspend their partnership for the Indian Premier League in 2020."
VIVO India had entered into a contract with IPL in 2017 by bidding a whopping Rs. 2,199 crore and the company was paying the BCCI Rs. 440 crore per year for the 5-year deal.
According to the India Today report, Tata Sons is now leading the race and there are more chances for it to get the title sponsor for IPL Season 13. The other brands which are in the race are Byju's, Reliance Jio, Dream11, and Unacademy.
Companies will bid for IPL title rights on August 18 after which the announcement of the new title rights holder will be made. The firms with a turnover of more than Rs. 300 crores will be allowed to bid for the rights which are available for the period from August 18, 2020 to December 31, 2020.
The BCCI president Sourav Ganguly while speaking during a webinar said that, "VIVO Pull out is not a financial crisis." He further added that, "It's just a little bit of a blip. And the only way you can do it is by being professionally strong over a period of time. You keep your other options open. It is like Plan A and Plan B. Sensible people do it. Sensible brands do it. Sensible corporates do it. BCCI, it's a very strong foundation, the game, the players, the administrators in the past have made this game so strong that BCCI is able to handle all these blips."
The Board of Control for Cricket in India ( BCCI) has announced that the Indian Premier League 2020 will be played in the United Arab Emirates (UAE) from 19 September. The matches will be held in Dubai, Sharjah and Abu Dhabi, subject to the approval of the Government of India.