The surprise withdrawal of Chinese mobile maker VIVO from IPL has left BCCI with little time to invite bids for a new  title sponsor for the upcoming season set to be played in the UAE. Reportedly, VIVO pulled out of the season after calls for boycott of Chinese products swept through India following deadly clashes between the armed forces of the two countries in June this year. Also Read - MI vs CSK IPL 2020: MS Dhoni Feels Chennai Super Kings Need to Improve in Plenty Of Areas Despite 5-Wicket Win Over Mumbai Indians in Abu Dhabi

VIVO had a five-year deal with BCCI as part of which it paid Rs 440 crore a year for sponsoring the cash-rich cricket tournament. Also Read - IPL 2020 MI vs CSK Match Report: Ambati Rayudu, Faf du Plessis Power Chennai Super Kings to Clinical Five-wicket Win vs Mumbai Indians in Tournament Opener in Abu Dhabi

In the turbulent financial times triggered by the coronavirus pandemic, the IPL teams were already bracing for lesser revenue as compared to the previous season as individual sponsors are negotiating discounted deals and there will be gate revenues as the matches will be played inside empty stadiums. Also Read - PM Modi Likely to Hold COVID-19 Review Meeting With Chief Ministers of 7 Worst-hit States Next Week

As per a report in Mumbai Mirror, BCCI has told the eight franchises that VIVO’s withdrawal means each of them can expect at least drop in revenue by Rs 25 crore.

The BCCI has assured the team owners that it will soon float a Request For Proposal (RFP).

Additionally, the board is expected to spend more this season considering the bio-secure bubble and strict health protocols becoming necessary for a safe conduct of the tournament.

“The health and safety of the players, all stakeholders is paramount, even if it meant a loss in our incomes. We’re strongly behind the BCCI on this. We’ll cooperate,” Mirror quoted an unnamed owner as saying.

Meanwhile, the teams want the IPL SOP to be tweaked including relaxation in quarantine period for players to ensure they have more time to practice and prepare for a gruelling season.