Vivo, after winning the IPL title sponsor bid for the next five years, wants to build on IPL gains. The tech company bagged the rights for a Rs 2, 1999 crore bid and a senior official, according to a PTI report, feels the association has been extremely beneficial. Vivo was the title sponsor after Pepsi’s exit and will now remain until 2022. The current deal will swell Board of Control for Cricket in India (BCCI) accounts by Rs 440 crore, yes Rs 440 crore, every year.
“The association with the IPL proved to be really beneficial for our brand and it was natural to continue the strong partnership,” Vivek Zhang, Vivo chief marketing officer, told PTI.
“Cricket is big in India and IPL is only getting better and bigger with each passing year. And not just cricket we believe in promoting other sports too and therefore the association with Kabaddi. We recently got associated with the FIFA World Cup for the next six years,” added Zhang.
Vivo, in May, also penned down a five-year deal for Kabaddi when they were named title sponsor of Pro Kabaddi League. Later, in the same month, they also struck a deal with FIFA for the 2018 and 2022 World Cups.
Year after year, BCCI has benefitted from IPL title sponsor deals and the value has considerably increased from what it was when the league rolled out. Major companies like Pepsi, DLF have been title sponsors in the past and now Vivo have extended their association with the cash-rich league.