VIVO Retains IPL Title Sponsorship From 2018-2022 For Rs 2199 Crore
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.
Board of Control for Cricket in India (BCCI) and Indian Premier League (IPL) has confirmed the news through their twitter handle.
Vivo has previously partnered with IPL and was the title sponsor for the last two seasons for a whopping amount of Rs 200 crore for the year 2016 and 2017. The last sponsorship had an increase of Rs 20 crore from what Pepsi had paid BCCI for the sponsorship rights held at the beginning of 2013.
Vivo’s previous deal had expired on 31 May, 2017 at the end of the 10th season of the Indian Premier League after which BCCI had invited applications for the IPL title sponsorship through the Invitation to Tender (ITT) process from interested companies. The companies were then asked to submit their bids latest by June 27.
Cricket is the leading sport in the country, by some distance. Difference in player wages is huge between cricket and other sports league. IPL had around 819 million views for the season.
Vivo has also partnered with the Pro Kabaddi League (PKL) in a contract worth Rs 300 crore for five years making it the second richest sports league in India in terms of sponsorship money.
