Mumbai: After Pepsi’s plea to withdraw from its position as the title sponsor of the controversy-ridden Indian Premier League (IPL), Vivo Mobiles on Sunday was made the title sponsor for the next two editions of India’s domestic T20 tournament.
According to IBN, in the BCCI Working Committee meeting on Sunday – the board gave the IPL title sponsorship for the next two editions to Vivo, a Chinese electronics manufacturer.
The fate of the two suspended IPL franchises, PepsiCo’s plea to withdraw as IPL sponsor and fixing the date of next Annual General Meeting were the top agenda at the BCCI’s all-powerful working committee meet on Sunday.
PepsiCo had bought the title rights of the tournament in 2012 for the period 2013-2017 for Rs 396 crore, which was nearly double of what IPL’s previous sponsor, DLF, paid for the previous five-year period.
PepsiCo sent a notice to BCCI earlier this month, alleging that the board had not acted in a fair and transparent manner to prevent or take corrective action related to fixing matters in the IPL.
The meeting was originally scheduled earlier in August but was adjourned sine die after deciding to seek the opinion of the Supreme Court on whether N Srinivasan could attend the BCCI meetings as the authorised representative of Tamil Nadu Cricket Association in view of the conflict of interest issue.