The Sino-Indian conflict at Galwan valley has cast its shadow on Indian Premier League(IPL) with its official sponsor Vivo at the centre of the storm.
The RSS affiliated Swadeshi Jaguars Manch called for boycott of IPL if the Chinese company is not shunted out of IPL sponsorship. The Chinese company vivo has entered into a five year contract with BCCI for an average annual sum of about Rs 440 crores.
The controversy owing to mounting anti China sentiment in India due to border conflict landed BCCI in a peculiar situation. The money making IPL cannot go on without a big sponsorer. At a time when economy is grim due to COVID-19, the IPL found it difficult to find a suitable alternative to vivo.
Even as the controversy refuses to die down, the BCCI announced that an amicable settlement was reached with vivo so that the Chinese company would withdraw from the IPL sponsorship. The BCCI’s decision was hailed as a celebration of anti China sentiment.
But, the real story started unfolding with the selection of new sponsorer for the IPL. A virtual betting company launched by an Indian duo, Dream 11 bagged the sponsorship at 50 percent discount(Rs 222 crore) as compared to vivo contract.
But, the more surprising aspect of the story is the fact that Chinese company Tencent Holdings has invested over Rs 700 crore in the Dream11. In fact, the Dream 11 went on an advertising blitz using MS Dhoni only after Chinese investment was made.
The fact that another company with sizeable Chinese investment was roped in as a new sponsorer reveals the facade of the anti China gung-ho. In fact, vivo was expressing its inability to pay Rs 440 crores this year due to COVID-19 induced economic meltdown.
The BCCI and the vivo have come to an amicable settlement as a result of which the Chinese company vivo was relieved of the fiscal burden. The tencent led Dream 11 could finally bag the sponsorship at half the price vivo has committed to. The IPL is the loser. The anti China sentiment too was the loser. The two Chinese companies benefited. Look at this anti China chimera.
By — Prof K Nageshwar
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This post was last modified on %s = human-readable time difference 4:14 pm
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