VIVO pays whopping sum for IPL rights

VIVO pays whopping sum for IPL rights

VIVO pays whopping sum for IPL rights

New Delhi: Mobile manufacturers VIVO retained the Indian Premier League’s title sponsorship for the next five years with a whopping Rs 2,199 crore bid, a mammoth 554 per cent more than the previous contract.

“In the upcoming five IPL seasons (2018 - 2022), Vivo and IPL will have extensive cooperation in terms of sports events, on-ground activations and marketing campaigns,” the BCCI said in a statement.

The annual break-up of the deal works out a nearly Rs 440 crore per year.

The Board had last month invited bids for the title sponsorship of the cash-rich and glitzy event for the period between August 1, 2017 and July 31, 2022.

VIVO had held the title rights for the 2016 and 2017 seasons. That deal was pegged at an estimated Rs 100 crore per year.

Speaking on 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.”
For the renewed contract, VIVO beat another mobile manufacturer Oppo, which had reportedly bid Rs 1,430 crore.

Vivo had taken over from soft drink giants Pepsi in 2014 -15.

“We are extremely glad to have Vivo as the title sponsor and look forward to an enriching affiliation for both stakeholders,” BCCI acting president CK Khanna said.

“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,” added acting secretary Amitabh Choudhary.

Pepsi claimed the rights in 2013, bidding Rs 396 crore for five years.

The company had taken over from real estate group DLF, which was the tournament’s maiden title sponsor from 2008 to 2012.

Srini hits out

Former BCCI president N Srinivasan hit out at a scribe for asking him in what capacity he attended the SGM of the cricket board.

Srinivasan attended the SGM as a representative of the Tamil Nadu Cricket Association (TNCA). However, he stands disqualified to be an office-bearer of TNCA as well as BCCI in the wake of Lodha panel recommendations.

“Where are you from, which channel,” Srinivasan questioned a scribe when he asked him in what capacity he attended the SGM.

To which, a visibly angry Srinivasan responded, “I congratulate you, you just now made me (to) shut up”.

When the scribe again asked the same question, the former ICC chief said, “Better right (capacity) than you have to ask me”.