Vivo retains IPL sponsorship for next five years
VIVO is leaving no stone unturned to expand its advertisement area. Yet once again, high on marketing, VIVO has successfully retained the sponsorship of the Indian Premier league’s title for next five years. To claim this sponsorship, VIVO came out with a huge Rs 2,199 crore, which was more than 500% more than the amount of previous sponsorship.
The bid for the Indian Premier League was invited by BCCI (The Board of Control for Cricket in India) last month starting from 1 August 2017 to 30 July 2022.
VIVO also held the Indian Premier League title sponsorship title previously from the year 2016 and 2017.VIVO had taken over the Sponsorship deal from the soft drink company, Pepsi in mid of 2014.
The first title sponsor for the Indian premiere league was DLF and it was from 2008 to 2012.After that Pepsi had claimed the deal for Rs396 crore.
It is also being said that nearest competitor to VIVO in the IPL Sponsorship bid was Oppo. Oppo has made a bid of Rs 1,430 crore.
Pepsi claimed the rights in 2013, bidding Rs. 396 crore for five years.
The company had taken over from real estate group DLF, which was the tournament's maiden title sponsor from 2008 to 2012.
This shows that how cash rich and important is this event for the country as well as the advertising giants.
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