Image Source: Sportskeeda.com

Mobile manufacturers VIVO has retained the IPL title sponsorship by bidding 2,199 Crores with the rights for the next five years. This amount is 554% increase over the previous contract.

“VIVO retains title sponsorship for IPL 2018-22. They bid Rs 2,199 crore, 554 per cent increase over the previous contract,” the IPL’s official handle tweeted. Vivo had replaced PepsiCo as the title sponsor of the high-profile tournament in 2015. The move had come after PepsiCo decided to suddenly pullout from a five-year deal that was to end in 2017.

Vivo’s IPL title sponsorship deal worth Rs2,199 crore translates to Rs440 crore a year, higher than the Rs330 crore Barclays paid for English Premier League between 2013-16.

In the upcoming five IPL seasons (2018-2022), Vivo and IPL will co-operate extensively on sports events, on-ground activations and marketing campaigns, BCCI said in a statement.For the renewed contract, VIVO beat another mobile manufacturer Oppo, which had reportedly bid Rs. 1,430 crore.

Apart from the Indian Premier League, the mobile company has also acquired the rights of becoming the title sponsors of the Pro-Kabaddi League for a period of five years.