Chinese Mobile Company VIVO created record deal of 2199 crore deal for the IPL title for next 5 years.
Vivo was title sponser for IPL in 2016 and 2017 for 100 crore per each year, after pepsi discontinued their contract with IPL in 2015.
Companies paid Rs 3 lakh just to buy the application form, so it’s no surprise.
Another company who bid for the title is Oppo, which is currently the new sponsor of the Indian cricket team and paid around Rs. 1079 crore for next 5 year.
Oppo placed bid for IPL title was around Rs 1430 crore and Vivo bids almost 60-70% higher then Oppo.
Vivo had taken over from soft drink giants Pepsi in 2014 -15. 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.