Vivo retains IPL title sponsorship in Rs 2199cr deal

Vivo retains IPL title sponsorship in Rs 2199cr deal

Vivo retains IPL title sponsorship in Rs 2199cr deal

Vivo was a clear victor as the closest rival to the IPL title sponsor rights was another Chinese smartphone company Oppo. According to the BCCI, it is a jump of 554% on the previous contract signed by the company.The IPL governing council met in Hyderabad on May 20 and finalised the timelines of various tender processes for IPL with the SC-appointed Committee of Administrators. After spending a huge amount of money in the auction, Vivo India will be the title sponsor of the league for the next five years to come.

The news was confirmed by the Board of Control for Cricket in India (BCCI) through its official Twitter handle on Tuesday morning.

Chile feels the fatigue from its all-out play in Confed Cup
Portugal's Cristiano Ronaldo celebrates after scoring a penalty during the 2017 Confederations Cup match against New Zealand . While Ronaldo garners the attention, another dynamo is blossoming in Russian Federation .

In 2015, Vivo had replaced PepsiCo as the title sponsor of the IPL. Previously, Vivo had won the bid of sponsorship for the last two seasons. In this period, Vivo bid Rs 2,199 crore for the title sponsorship, a whopping increase of 554 percent from their previous bid.

VIVO bid Rs. 2,199 Crore, overtaking the next best bid by OPPO, who presented Rs. 1430 crores for the same.

Jordan Spieth holes bunker shot on play-off hole to win Travelers Championship
Rory McIlroy used his third putter of the week on Sunday to help him shoot a 64, his lowest round on the tour this season. Rolle's dream of becoming a doctor came to fruition on May 20 when he graduated from Florida State's College of Medicine.

VIVO had held the title rights for the 2016 and 2017 seasons. The interested parties were asked to submit their bids by June 27 at 12 noon at a place, which will be specified in the document or at any other place as decided and initiated by the BCCI. The beverage maker had paid Rs 396 crore for five years in 2013 and this new deal is five-and-a-half times more than what PepsiCo had paid.

Meanwhile, CoA chairman Vinod Rai had hoped for highest level of transparency and accountability.

Mongolians vote for president amid graft, financial concerns
The election was seen as referendum on the government's economic recovery plans and China's role in the country. Unemployment is roughly 9 percent, with about one in five Mongolians living in poverty.

Related news