Vivo to Remain as IPL Sponsor and Pay BCCI 2199 Crores Over Period of 5 Years

Chinese handset maker Vivo have successfully managed to outbid the likes of Oppo to remain as the title sponsor of the Indian Premier League. As a result of winning the deal, Vivo will now pay the Board of Control for Cricket in India (BCCI), a grand total of Rs 2199 crores over a period of 5 years, which is roughly 440 crores per annum. Oppo currently sponsors the Indian cricket team and is part of the same parent group as Vivo.

Vivo stepped in as the major IPL sponsor after Pepsi pulled out of 5-year deal following the match-fixing scam. The Chinese firm had a two year deal at 200 crores in 2016. On May 31st, the BCCI invited bids for title sponsorship and the deadline for tender submission was June 27th. This title sponsorship is a huge step up from what the company paid in 2016 which was 100 crores a year. Oppo, which was the other bidder, bid for 1300 crores. Drinks giant, Pepsi, had their contract cover the cash rich tournament from the 2013 season to the 2017 season. But as mentioned earlier, dropped out after 3 years due to the scandals surrounding the league. Their contract settled for a sum of 396 crores at around 80 crores per year.

The current bids show the interest IPL still generates and we are getting lot more money than earlier,” said IPL Chairman Rajiv Shukla. A BCCI official said?”There was some Indian interest as well. But no one came for the walk in bids. Perhaps they anticipated the kind of money Chinese mobile companies are willing to spend to capture the Indian market,”