IPL title sponsorship: Chinese smartphone major Vivo has retained the title sponsorship for the Indian Premier League (IPL) with a whopping bid of Rs 2,199 crore. This is a 554% increase over the previous contract. The news was confirmed by the Board of Control for Cricket in India (BCCI) through its official Twitter handle on Tuesday morning. “VIVO retains title sponsorship for IPL 2018-22. They bid Rs. 2,199 Crores, 554% increase over the previous contract!” BCCI posted on Twitter. Previously, Vivo had won the bid of sponsorship for the last two seasons. According to PTI, this sponsorship had cost Vivo Rs 100 crore per year, which was an increase of Rs 20 crore from what Pepsi had to pay to BCCI for the sponsorship at the beginning of 2013.
However, Vivo’s previous deal had expired at the end of the 10th season of the Indian Premier League. Last month, BCCI had invited applications through the Invitation to Tender (ITT) process from interested parties for title sponsorship rights of Indian Premier League (IPL). The interested parties were asked to submit their bids by June 27 at 12 noon at a place, which will be specified in the document or at any other place as decided and initiated by the BCCI.
— IndianPremierLeague (@IPL) May 21, 2017
Back then, IPL chairman Rajeev Shukla had told PTI, “I’m pleased that both the governing council and CoA members have finalised 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.”
Meanwhile, CoA chairman Vinod Rai had hoped for highest level of transparency and accountability. “I’m confident about the process and would like to assure all prospective participants the highest level of transparency and accountability,” Vinod Rai was quoted saying by the agency.