VIVO bags IPL title rights for 2018-22 with a whopping Rs 2,199 crore bid

CHINESE MOBILE FIRM VIVO has won the IPL title sponsorship contract for the next five seasons. With a 554% increase over the previous contract, VIVO retained rights by bidding a whopping Rs 2,199 crore. 

The news was shared via the official IPL Twitter handle. The new contract also means that the BCCI will now earn Rs 2,199 crore from IPL’s title sponsorship deal for editions between 2018-2022. Speaking about the development, IPL chairman Rajeev Shukla said,

"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.”

BCCI Acting Secretary added, 

“We received an overwhelming response for the title sponsorship rights and we are glad to have Vivo back on board. It is a renewal of a fruitful relationship with the brand that will extend for the next five years.” 

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

It is learnt that VIVO was facing fierce competition from PepsiCo and Oppo. However, it appears that the BCCI is certainly a big winner in this competition.  

Get the latest in the world of Sports, Teams, and Players! Free Delivery to your Inbox.