Chinese mobile manufacturers VIVO have retained the title sponsorship rights of the Indian Premier League for the next five years [2018-2022]. VIVO bid for INR 2199 Crores, a 554% increase from their previous contract to stave off competition from other suitors.
“We are delighted to have Vivo joining us once again as the title sponsor for IPL for next five years,” IPL Chairman Rajeev Shukla said. “The association with Vivo has been great for the past two seasons and I am sure they will continue to make it bigger and better.”
VIVO initially became the title sponsor in 2015 after PepsiCo pulled out midway through their five-year deal in the aftermath of the spot-fixing scandal. Once the two-year deal got over this year, the BCCI invited bids for the title sponsorship for the period between August 1, 2017 and July 31, 2022.
“We received an overwhelming response for the title sponsorship rights and we are glad to have Vivo back on board,” Acting Secretary of the BCCI, Mr. Amitabh Choudhary said. “It is a renewal of a fruitful relationship with the brand that will extend for the next five years.”