Vivo India retains its sponsorship title rights in the IPL
BCCI set to earn Rs 2199 cr from five-year deal
Updated - Jun 27, 2017 1:16 pm
In the latest development from the Indian Premier League, Vivo India has retained its contract for the Title rights for the next five editions of the IPL. BCCI was scheduled to host an auction for the Title rights today. Their contract terminated with the end of the 2017 edition of the league.
Vivo India sealed the deal with their bid for a whopping amount Rs 2199 crores for the next five years of the tournament. They received a strong competition from it rival mobile phone company Oppo who had proposed an amount of Rs 1430 crores for the deal. Oppo is currently associated with the Indian team as the main sponsors of the team.
The tournament has had a variety of multi-national companies at war with each other for the sponsorship rights in the past. For the first few years, DLF had the Title rights. Following DLF, Pepsi had the Title rights in the IPL. It was only then Vivo had their hands on the sponsorship rights for the biggest T20 tournament in the world.
Oppo miss out by a whisker
Just after the tournament ended this year, BCCI scheduled a meeting to decide when the auctions are going to take place. IPL Chief Rajeev Shukla termed the meeting as successful as they Governing Council finalized on the timelines for the bidding to be taken place. Shukla stated that looking at the successful season of 2017, they hoped to obtain the value for the cricketing mega-event.
“I’m pleased that both the governing council and CoA members have finalized the timelines for the next rights period. If the success of 2017 season is an indication, I believe we will be able to get the best value and service for the world’s premier Twenty20 extravaganza. The early announcement will also help the prospective bidders/service providers to prepare well,” quoted Rajeev Shukla according to Times of India. Vivo can now take a sigh of as they are the title sponsors for the next five years