The Chinese handset company Vivo has reserved the Indian Premier League title sponsorship for five seasons till 2022 with an INR 2199 crore, approximately US $341 million.
On Tuesday, in Mumbai, the bids were opened in the presence of both parties along with IPL chairman Rajiv Shukla and BCCI’s acting secretary Amitabh Choudhary.
BCCI CEO Rahul Johri said to ESPNcricinfo that “When an existing sponsor renews [the contract] and puts in a number like this, then it’s a real testimony to the value of this property [IPL]. There are two things: firstly, the pre-eminence of the IPL as one of the finest global sports properties [is established].”
“It is unparalleled. If you saw this year’s IPL numbers, they were the highest ever. It is a property which continues to grow year after year, and that’s what we are seeing.”
“Secondly, Vivo, which was already a sponsor for the last two years, putting in this number, that really shows that they are fully aware of the value of this commitment.”
There are two companies like Xiaomi and Intex which picked up the tender document, however, did not go through with the bid.
When asked about the trend of three of the four interested parties being Chinese mobile handset, Johri said that Oppo and Vivo had sufficient experience to cricket sponsorships.
“You have to understand that both these companies have been involved in cricket sponsorships. Oppo is one of the sponsors of the ICC, so they have cricket exposure. And, Vivo is an existing IPL sponsor, so they are continuing their investment into cricket, so that shows the importance of cricket, especially Indian cricket. It’s not the first time they are doing it, they understand the value.”
Johri said working with existing sponsors was positive for Indian board. “BCCI is a cricket establishment and people who have cricket exposure are there. Plus, you see, the ticket price of these sponsorships are so high that you will always have a handful of people. You wouldn’t have a 100 people signing up for this, so the really serious guys [are the ones that will come forward].”