IPL suspends sponsor deal with Chinese firm after border clash

IPL suspends sponsor deal with Chinese firm after border clash

By

New Delhi: The Indian Premier League suspended its deal with its main sponsor, the Chinese mobile phone manufacturer Vivo, on Thursday after the deadly border conflict between the two countries in June caused strong reactions.

The Indian Cricket Control Board stated that the deal has cancelled the 2020 tournament, which is scheduled to start in the United Arab Emirates on September 19.

Vivo signed a five-year contract in 2017 worth US$330 million to sponsor the world’s richest cricket tournament. But since the conflict on June 15 resulted in the death of 20 Indian soldiers, there have been growing calls to boycott Chinese companies.

Nationalist groups have threatened to boycott cricket matches if Vivo is retained.

The Indian government has banned dozens of Chinese smartphone applications, including video sharing platform TikTok, and has taken other measures to restrict trade with China.

According to reports, BCCI is negotiating with Indian companies to intervene this year, but the revenue is expected to be less than Vivo’s 60 million US dollars.

The alliance has brought considerable revenue to BCCI and is estimated to have created more than 11 billion U.S. dollars in revenue for the Indian economy.

Leave a Comment

Your email address will not be published.

You may also like

Hot News