IPL rights are being sold to Vivo for the next five seasons from 2018 to 2022. There was an open bid for the sponsorship recently. Vivo won the bidding with a whopping amount of INR 2199 crores, which comes to around USD 341 million. The bidding amount for the next season is 454% more than the previous amount before five years in 2012. This will be a massive boost in BCCI’s finance.
Chinese mobile handset manufacturer Vivo has retained the Indian Premier League title sponsorship rights for the next five seasons (2018-2022) with a winning bid of INR 2199 crores (approximately US $341 million), a jump of 4.54% over the five-year contract signed in 2012. Vivo took IPL sponsorship from PepsiCo India. The latter sponsored IPL for two editions. Vivo first sponsored IPL title in October 2015. PepsiCo’s contact was worth INR 396 Crore for five years. However, they ended the contract before two years. Per Rahul Johri, BCCI CEO, Vivo wanted the contract for sponsorship for INR 100 Crore a year previously.
Another bid was from Oppo, at INR 1430 Crore. In March, Oppo won the sponsorship of India team from Vivo. These two companies have been the only bidders of IPL. The tender documents were also collected by Xiaomi and Intex. Rahul Johri said Oppo is an ICC sponsor and Vivo is an existing IPL sponsor. Per Johri, the Chinese companies “understand the value” of cricket and “especially Indian cricket.” The CEO said, the ticket price of sponsorship is made so high that only serious investors will come forward and there are only handful of people in this. He also said, Vivo is “fully aware of the value of this commitment.”
This year, BCCI set the base price for IPL 15% higher than what Vivo paid last season. BCCI opened the bidding process on June 28 in Mumbai. The process was overseen by IPL Chairman Rajeev Shukla and Amitabh Choudhary, BCCI’s acting secretary.
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