IPL announced the review meeting will be held next week.
Board of Control for Cricket in India (BCCI) on Friday (June 19) announced that it will review the various sponsorship deals of Indian Premier League (IPL) in a meeting which is set to be held next week after 20 Indian soldiers were martyred in a clash with Chinese troops in the Galwan Valley in Ladakh.
The meeting will also review title sponsorship deal with Vivo which is valued at INR 440 crore annually.
"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." the official handle of IPL tweeted on Friday night.
Apart from Vivo, PayTM is also one of the sponsors which has Alibaba as one of its investors. It is being reported that the discussion will be on whether to invoke the exit clause or honour the contract of Vivo till 2022.
BCCI treasurer Arun Dhumal had earlier said in a chat with PTI, that the money from Chinese sponsorship is only helping the Indian economy but if the need arises the board would not hesitate to put the interests of the country first.
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Anti-China sentiments are running high all over India after the brutal clash at the LAC in Galwan Valley. There have been calls for a boycott of all Chinese products and to encourage the 'Make in India' campaign by supporting Indian products and companies.
(With PTI inputs)