- The BCCI has called a meeting this week to review the league's sponsorship deal, while on Monday, the government has closed China's 59 mobile apps.
- The IPL title sponsor gives Rs 440 crore every year to the Vivo board, with a five-year deal ending in 2022
Jun 30, 2020, 09:33 PM IST
new Delhi. There have been demands for boycott of Chinese companies since 20 Indian soldiers were killed in a clash with the Chinese army in the Galvan Valley of Ladakh. Ness Wadia, co-owner of Kings XI Punjab, an IPL team, has demanded the Indian Premier League (IPL) to terminate the Chinese companies' agreement and boycott Chinese goods in view of the border dispute between India and China.
However, the Board of Control for Cricket in India, ie BCCI, has already decided to review the IPL sponsorship. The board has called a meeting this week to review the league's sponsorship deal. Already on Monday, the government has closed China's 59 mobile apps.
Wadia said that in the interest of the country, we should end the agreement with Chinese companies from IPL. Country interest is first and money is later. He said that Indian sponsors should be found for IPL. Although there will be trouble initially, but I am confident that many Indian companies will be found, which can replace Chinese companies. Wadia said that many teams including Chennai Super Kings have said that they are with every decision of the government.
440 Crore Agreement with Vivo Company
The title sponsor of the IPL pays Rs 440 crore every year to the Vivo board. The five-year agreement with it will end in 2022.
"Alibaba's stake in Paytm too
Apart from Vivo, mobile payment service Paytm is also part of the sponsorship deal of IPL. Chinese company Alibaba has also invested in this company. Alibaba holds 37.15 per cent stake in Paytm. In addition, Chinese video game company Tencent holds 5.27 per cent stake in Swiggy and Dream-11. All these Chinese companies are sponsors of BCCI.
Chinese company also holds stake in Team India's jersey sponsor Byju
At the same time, Chinese company Tencent also has a stake in Team India's existing Jersey sponsor Byju. Byju signed a five-year deal with the BCCI last year. Under this, he will give Rs 1079 crore to the board.