As per analysis, this is how much Vivo will spend per ball in the coming IPL editions
The two Chinese mobile companies have made huge investments in Indian cricket, and that proves the amount of popularity cricket enjoys in India.
Chinese mobile manufacturing company Vivo retained their title sponsorship rights for the Indian Premier League (IPL) for another five years on Tuesday, by agreeing to pay a massive sum of Rs 2,199 crore. The company made an increase of nearly 554% from their previous contract. The second highest bidder for the sponsorship title was Oppo at Rs 1,430 crore, that also holds the rights for Indian team’s jersey and kit sponsorship.
Vivo had taken over from PepsiCo in 2014-15 and had paid Rs. 100 crore per year to claim the sponsorship rights. Having extended the sponsorship for a period of five years, the mobile giant is now the only firm to have enjoyed an association of seven years with the IPL as title sponsors.
Another case in point which makes the BCCI richer from sponsorship deals was in March when Rahul Johri, CEO of the BCCI, signed a Rs 1080 crore deal with Oppo for the jersey rights of the Indian team and that was also a massive jump from the previous rights.
The two Chinese mobile companies have made huge investments in Indian cricket, and that proves the amount of popularity cricket enjoys in India. Both Vivo and Oppo are trying to outspend the other and it is a kind of a jackpot for the BCCI. Mumbai Mirror points out a shocking analysis made by Navroze Dhondy, a Delhi-based marketing expert, who has analysed how much Vivo would be spending per ball bowled in the IPL for the next five years.
“Dhondy says the basis for valuation is something only Vivo can explain but a micro analysis would reveal that Vivo would be spending close to Rs 3.2 lakh per every ball bowled in the tournament for the next five years,” the report stated.
BCCI the richest board, IPL the richest league
In the coming five IPL seasons from 2018-2022, IPL and Vivo will work together on sporting events, marketing campaigns, and on-ground activations, BCCI stated in a statement. Another assessment has shown that IPL is now the richest sports league as Vivo’s investment now surpasses what Barclays’ has invested in the English Premier League.
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