Vivo India to sponsor next 5 IPL seasons, contract amount increased by a whopping 554%

The Indian Premier League (IPL) title sponsor bidding invited a massive 554 per cent increase as the deal soared up to Rs. 2,199 crores

Vivo India is once again the title sponsor of Indian Premier League (IPL). Vivo India has retained the Title rights contract on June 27 as BCCI has scheduled a Title rights auction for IPL 2018. Vivo India’s previous contract ended after the conclusion of IPL 2017. Vivo made it all the way with a whopping bid of Rs. 2,199 crores to seal the deal. After spending a huge amount of money in the auction, Vivo India will be the title sponsor of the league for the next five years to come. There was a massive 554 per cent increase in the sponsor amount which is the most in the history of the tournament.

Vivo was a clear winner as the closest rival to the IPL title sponsor rights was another Chinese smartphone company Oppo. They made a bid of Rs 1,440 crores but the amount Oppo offered turned out to be too good for them to tackle. Oppo is already sponsoring the Team India as their name is on the jersey since ICC Champions Trophy 2017.

Before Vivo India, IPL has had only two title sponsors before Oppo. DLF sponsored the inaugural season as they had the contract for five years of the tournament. After DLF, Pepsi Co, sponsored IPL. Though they ended their deal early on following the fixing scandal involving S Sreesanth, Ankeet Chavan, Ajit Chandalia.

Before the IPL 2017 title sponsor auction, Chairman Rajeev Shukla told Times of India, “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.”