BCCI President Sourav Ganguly reacted on the suspension of the Indian Premier League title sponsorship deal with Vivo, preferring to call it a “passing problem” rather than a “financial crisis”.
BCCI and Vivo decided on Thursday to suspend their partnership for IPL 2020, scheduled for September 19 in the United Arab Emirates. The agreement came about as a result of the border confrontation between China and India and the demand to boycott Chinese products by the Indian government.
During a webinar hosted by educational book publishers S Chand Group, Ganguly said: “I wouldn’t call it a financial crisis. It’s just a little problem. ”
The former captain of India assured that BCCI has a ‘Plan B’ and said: “BCCI, it is a very solid foundation: the game, the players, the administrators in the past have made this game so strong that the BCCI can handle it. all these blips. You keep your other options open. It’s like Plan A and Plan B. Sensible people do it. Sensible brands do. Sensible corporations do. ”
“And the only way to do it is by being professionally strong for a period of time. Great things don’t come overnight. And big things don’t disappear overnight. Your preparation over a long period of time prepares you for losses, prepares you for successes. ”
Title sponsorship is a significant portion of the IPL’s business revenue, half of which is shared equally by all eight franchises. Vivo won the sponsorship rights to the IPL title for five years from 2018 to 2022 for a reported sum of Rs 2,190 crore, approximately Rs 440 crore per year.
In reaction to the ICC’s decision to retain India’s rights to host the 2021 World Cup, Ganguly said: “India was designated (to host) the 2021 and 2023 World Cups, so there is no big change on that. Yes, the COVID situation had alarmed everyone, but it is. ”
She is a freelance blogger, writer, and speaker, and writes for various entertainment magazines.