Vivo Pays Rs.2,199 crore to Lift IPL Title Rights

Chinese handset manufacturer Vivo won the title sponsorship of the Indian Premier League for the next five years with a record-breaking bid of Rs.2,199 crore.

At Rs.440 crore per season, that's almost four times the base price of Rs.120 crore set by the Board of Control for Cricket in India, making Vivo's commitment the biggest sponsorship deal in the history of any sport in India, beating the previous record of Oppo's Rs.1,079-crore payout for Team India's jersey rights, which it bought earlier this year.

Oppo, which trumped Vivo in securing Indian cricket team's jersey rights earlier this year, was the second highest bidder at Rs.1,430 crore. Incidentally, Vivo and Oppo are owned by the same parent company, BBK Electronics, which also owns OnePlus.

Apart from IPL, Vivo has also picked up the Pro Kabaddi League's title sponsorship rights for five years for Rs.300 crore.

Beverage maker PepsiCo had won the 2013-17 rights for Rs.396.8 crore, about Rs.79.4 crore per year.

However, after paying Rs.206 crore for first three years, the beverage maker decided to end its association after IPL was caught up in the spot-fixing controversy.

Chinese handset manufacturer Vivo came on board for the remaining two years of the contract, paying Rs.190 crore to become the title sponsor.

DLF, the first IPL title sponsor, paid Rs.200 crore for 2008-12, or Rs.40 crore per year.

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