Chinese handset major Vivo has pulled out of the IPL sponsorship deal for this year.
But Vivo has not terminated their sponsorship agreement with the Board of Control for Cricket in India
BCCI is soon expected to announce a standalone sponsor.
He added that BCCI will float fresh tenders for title sponsorship in next three days and will then decide the title sponsor.
Vivo wanted a cut of Rs 130 crore for this year, citing poor sales and prevailing sentiments against Chinese companies. The company was slated to pay Rs 440 crore this year as part of the agreement, Media Reported.
The deal with BCCI for IPL sponsorship is Rs 2,199 crore for five years.
The Swadeshi Jagran Manch had said the IPL Governing Council disrespected the soldiers martyred by sticking with Vivo as a sponsor.
A Vivo spokesperson, however, declined to give details about the development.
“We are neither denying or confirming the move,” the spokesperson said.
Calls for boycotting Chinese products intensified after 20 Indian soldiers were killed in the Galwan Valley clash on June 15.