Vivo retains IPL title sponsorship contract for five more years
Mumbai: Chinese smartphone manufacturing giant Vivo on Tuesday extended the title sponsorship contract with the cash-rich Indian Premier League (IPL) by five more years.
The official announcement in this regard was made by the Board of Control for Cricket in India (BCCI) here.
According to BCCI, Vivo bid Rs 2,199 crores to renew its contract, which is a 554 percent increase over the previous contract.
"The Board of Control for Cricket in India (BCCI) today announced its association with Vivo as the title sponsor for the Indian Premier League for the next five years," said a statement from the Cricket board.
"In the upcoming five IPL seasons (2018 to 2022), Vivo and IPL will have extensive cooperation in terms of sports events, on-ground activations and marketing campaigns.
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."
Apart from the IPL, the mobile company has also acquired the rights of becoming the title sponsors of the Pro-Kabaddi League for a period of five years. The deal was announced in May 2017 and it is valued at Rs 300 crore.
With IANS Inputs