Latest News – Chinese handset maker Vivo has successfully retained the title sponsorship to the cash-rich twenty-20 tournament, the Indian Premier League (IPL). The company will pay the Board of Control for Cricket in India (BCCI) a total of Rs 2,199 crore over the next five years.
The next closest bid was made by Oppo at Rs 1,432 crore for five years. Currently, Oppo holds the Team India sponsorship rights and, interestingly, both Vivo and Oppo are part of the same parent group. The base price for bidding was Rs 600 crore for five years, or Rs 120 crore per year.
The new title sponsorship rate is a huge mark-up over what Vivo was paying the BCCI since 2016. The Chinese handset maker came in (Read More)