Flipping the pages of history, no one had imagined that this league which was launched as a competition for ICL (Indian Cricket league) will become the world’s richest league in the world. After receiving a whopping amount of 2199 crore by VIVO for title sponsorship IPL is set to become world’s richest league.
Chinese mobile manufacturing giant VIVO on Tuesday retained the title sponsorship for cash-rich Indian Premier League for another five years. It is 554% from their previous contract. Another mobile manufacturing giant OPPO was on the second position with a bid of 1430 crores.
The Board of Control for Cricket in India (BCCI) will receive Rs440 crore a year, higher than the Rs330 crore a year Barclays Plc. paid to be title sponsor of the world’s most watched sports league, the English Premier League, between 2013 and 2016. Popular leagues from other sports in USA like NFA and NBA do not have title sponsors.
Vivo had taken over from PepsiCo in 2014-15. PepsiCo had paid Rs 396 crore for five years in 2013. Vivo had paid five-and-a-half times more than PepsoCo. Vivo and IPL will have extensive cooperation’s in terms of sports events, marketing campaigns etc.
IPL chairman Rajeev Shukla said, “We are delighted to have Vivo joining us once again as the title sponsor of 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.”
“This is testimony to the position that IPL holds, being one of the top-most sporting leagues in the country,” said Rahul Johri, chief executive, the Board of Control for Cricket in