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Vivo's IPL sponsorship exit: BCCI may earn Rs 250-300 crore from new sponsor versus Rs 440 crore earlier

FMCG companies and telecom service providers are expected to lead the IPL title sponsorship bids.

August 05, 2020 / 04:53 PM IST

Vivo's decision to pull out of the Indian Premier League (IPL) sponsorship this year is likely to hand the Board of Control for Cricket in India (BCCI) a huge financial setback as it can expect to fetch a maximum of Rs 300 crore from a new sponsor, sources told Moneycontrol.

BCCI was slated to earn Rs 440 crore from Vivo as part of its sponsorship deal for the T20 tournament.

The repercussions of Vivo's exit will also be felt by IPL's broadcast partner Star India, according to Sandeep Goyal, Chairman, Mogae Media.

"BCCI won't be able to earn the Rs 440 crore it was set to get from Vivo from another sponsor in this environment. This development is also a big blow for Star as Vivo will most probably stay away from advertising and other Chinese brands may follow suit considering the present anti-Chinese prevalent in the country right now," he told Moneycontrol.