Retail conglomerate Future Group, which is currently going through a restructuring phase, has pulled out of BCCI's central sponsorship list for the Indian Premier League. Future Group has been forced to pull out as the company is reportedly on the verge of a takeover and has suffered losses due to the prevailing hostile economic climate in the wake of the COVID-19 pandemic.

"Yes, Future Group has pulled out of IPL central sponsorship and that's the reason their logo has been removed from the IPL website. At this point of time, I won't like to elaborate on the development," a BCCI veteran confirmed the development to PTI. When a Future Group official was contacted, he refused comment but industry insiders confirmed that the pullout was on cards because of the financial health of the company. "Future Group has been in bad shape since the start of COVID-19.