Vivo has won the title rights bid for IPL for 2018-2022 for Rs 21.9 billion -- which is a 554 per cent hike over the previous contract. Oppo, with Rs 14.3 bn-bid, Motorola, Xaiomi, and Intex were the other bidders.
21 June was the last day for interested companies to pick up the bid document, which was available from 31 May.
The IPL’s title sponsorship has been held by three brands since the tournament’s launch in 2008. For the first five years, DLF held the rights while, in 2013, Pepsi came on board.
However, after the BCCI found itself in a mess with the betting and spot-fixing scam, the beverage giant discontinued its deal in late 2015. This made way for Vivo to pick up the rights for the last two years of Pepsi’s contract tenure.
Vivo wins IPL title rights for Rs 21.9 bn
21 June was the last day for interested companies to pick up the bid document, which was available from 31 May.
The IPL’s title sponsorship has been held by three brands since the tournament’s launch in 2008. For the first five years, DLF held the rights while, in 2013, Pepsi came on board.
However, after the BCCI found itself in a mess with the betting and spot-fixing scam, the beverage giant discontinued its deal in late 2015. This made way for Vivo to pick up the rights for the last two years of Pepsi’s contract tenure.
Vivo wins IPL title rights for Rs 21.9 bn
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