IPL GC convenes immediate meeting to 'review' sponsorship deals in wake of LAC tension
The Indian Premier League Governing Council has convened an emergency meeting next week to review some of their sponsorship deals in the wake of India-China border tension in Leh this week. However, Arun Dhumal has clarified that the current contract with Vivo is not likely to be scrapped.
After the nation-wide boycott call for Chinese goods in India after 20 Indian soldiers were martyred, including one senior officer, in Leh on June 15, the flashpoint moved to the IPL which is sponsored by Chinese company Vivo while Paytm, backed by Chinese e-commerce company Alibaba, sponsors various other things during a game of IPL. In the wake of that, BCCI has called for a meeting of its Governing Council next week to "review various sponsorship deals" for the tournament.
Vivo first bagged the IPL title sponsorship for two years in 2015 and later in 2017, they renewed the deal in a five-year contract paying about USD 341 million. Paytm, who sponsors the on-ground stuff including umpire’s clothing, paid a lump sum amount for their retainers between 2018-22 for an undisclosed amount.
“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,” IPL tweeted last night.
While all the eyes are fixed now on what the BCCI will do with their contracts with Vivo and Paytm, BCCI Treasurer Arun Dhumal said that the board was open to reviewing any future deals post 2022, but scrapping the current deals will have an adverse effect on the Indian economy.
"When you talk emotionally, you tend to leave the rationale behind. We have to understand the difference between supporting a Chinese company for a Chinese cause or taking help from the Chinese company to support India's cause,” Dhumal told PTI on Thursday.
"When we are allowing Chinese companies to sell their products in India, whatever money they are taking from Indian consumers, they are paying part of it to the BCCI (as brand promotion) and the board is paying 42 percent tax on that money to the Indian government. So, that is supporting India's cause and not China's."
As a matter of fact, the thirteenth edition of the IPL has now been postponed indefinitely, with the BCCI looking for the October-November window to go ahead with the tournament.
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