Vivo retains IPL title sponsorship for next five years

27 June, 2017, 14:24 | Author: Yolanda Murray
  • VIVO retains IPL title sponsorship in mega deal

The news was shared via the official IPL Twitter handle.

Major Chinese smartphone company Vivo has retained the title sponsorship for the Indian Premier League (IPL) with a whopping bid of Rs 2,199 crore; a massive increase of 554 percent compared to the last contract.

BCCI had initiated the tender process for the title sponsorship rights, for five seasons from 2018 - 2022.

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For the renewed contract, VIVO beat another mobile manufacturer Oppo, which had reportedly bid Rs 1,430 crore.

Vivo had bought the title sponsorship right of the T20 League for a two-year period (2016 and 2017).According to PTI, this sponsorship had cost Vivo Rs 100 crore per year, which was an increase of Rs 20 crore from what Pepsi had to pay to BCCI for the sponsorship at the beginning of 2013.

VIVO bagged the rights for IPL 2018 to 2022 by making an increase of nearly 554% from their previous contract. The period for the sponsorship extends from August 2018 to July 2022, and will commence with the start of the IPL's eleventh edition next year.

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Beverage giant PepsiCo won the next bid in 2012 and signed a five-year deal worth Rs. 396 crores.

Earlier this month, Vivo bagged a sponsorship deal with Federation Internationale de Football Association to become the official smartphone partner for all Federation Internationale de Football Association events including the 2018 and 2022 World Cups. The interested parties were asked to submit their bids by June 27 at 12 noon at a place, which will be specified in the document or at any other place as decided and initiated by the BCCI.

Oppo put in a record bid of Rs 1,079 crore for five years (2017-2021).

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