Vivo retains IPL title sponsorship; to pay Rs 2,199 cr to BCCI over 5 yrs

The new title sponsorship rate is a huge mark-up over what Vivo was paying the BCCI since 2016

Chinese handset maker Vivo has retained the title sponsorship of the Indian Premier League (IPL). The company will pay the Board of Control for Cricket in India (BCCI) Rs 2,199 crore over the next five years.

The next highest bid was Rs 1,432 crore by Oppo, which holds the Team India sponsorship rights. Both Vivo and Oppo are parts of the same parent group. The base price for bidding was Rs 600 crore for five years, or Rs 120 crore per year.

The deal is at a big mark-up to the previous one Vivo had with the BCCI. The