Cricket in India continues to attract big companies and make them pay an unimaginable price for the sponsorship. After Chinese mobile company OPPO shelled out 1079 crores for the 5 year sponsorship of Indian Team for Champions Trophy, VIVO has paid an unimaginable price to buy the IPL title sponsorship till 2022.
VIVO lost out to OPPO last time during the bidding of Champions Trophy as their bid was 768 crores. But this time they left no chance for the competitors by doing a crazy bid of 2199 crores.
Interestingly, the bid is 554% more than the 200 crores they gave back in 2015.
An announcement was made on IPL’s official Twitter channel-
VIVO retains title sponsorship for IPL 2018-22. They bid Rs.2,199 Crores, 554% increase over the previous contract! pic.twitter.com/6D7RXooTvB
— IndianPremierLeague (@IPL) June 27, 2017
VIVO retains title sponsorship for IPL 2018-22. They bid Rs.2,199 Crores, 554% increase over the previous contract!
Speaking on the announcement, IPL chairman Rajeev Shukla commented-
“We are delighted to have Vivo joining us once again as the title sponsor for IPL for next five years. 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.”
In a statement, BCCI said-
“The premium global smartphone manufacturer bid Rs 2199 crores, which is a 554 percent increase over the previous contract. In the upcoming five IPL seasons (2018 – 2022), Vivo and IPL will have extensive cooperation in terms of sports events, on-ground activations and marketing campaigns.”
Interestingly, Vivo is making a big push into Indian sports. Apart from the Indian Premier League, the mobile company has also acquired the title sponsorship of the Pro-Kabaddi League for a period of five years. The deal was announced in May 2017 and it is valued at Rs 300 crore.
Now that’s a really big update. Isn’t it?