Sourav Ganguly brushes off speculation of a financial crisis, post the suspension of Vivo as title sponsors.
The BCCI President stated that suspension of IPL title sponsorship with Vivo was just a blip and dismissed the rumors of a financial crisis.
The Board of Control for Cricket in India (BCCI) President Sourav Ganguly has quashed rumors of a financial crisis and said that the suspension of the Indian Premier League (IPL) title sponsorship deal with Vivo was just a blip. Ganguly dismissed the speculation of the monetary crisis in the BCCI. On Thursday, BCCI and Chinese mobile phone giant Vivo announced the suspension of their partnership for this year’s IPL amid the clamor to boycott Chinese products in the wake of the Indo-China border standoff and the violent clash between the two armies in the Galwan Valley in eastern Ladakh.
IPL to lose a significant chunk of revenue along with the 8 franchises after Vivo’s suspension:
IPL earns significant revenue from the title sponsorship deal, half of which is shared equally by the eight franchises. Vivo will not be title sponsors of the 13th season of IPL, starting on September 19 the UAE. The Chinese company has the IPL title-sponsorship rights from 2018 to 2022, five years. Vivo has paid a whopping sum of INR 2190, approximately INR 440 crore per year.
Sourav Ganguly has a Plan B to manage the blip:
During a webinar on Saturday Sourav Ganguly said,” I wouldn’t call it as a financial crisis. It’s just a little bit of a blip. BCCI, it’s a very strong foundation – the game, the players, the administrators, in the past have made this game so strong that the BCCI can handle all these blips. 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.”
