The title sponsorship rights of the Indian Premier League (IPL) for a period of five years have been retained by the mobile phone manufacturer Vivo.
The Indian Premier League (IPL) on Twitter tweets ' VIVO retains title sponsorship for IPL 2018-22. They bid Rs.2,199 Crores, 554% increase over the previous contract!'
The previous title rights deal, signed in 2015 for a two-year period, had cost the company Rs. 200 crores.
PepsiCo won the next bid in 2012 and signed a five-year deal worth Rs. 396 crores. However, PepsiCo India terminated its contract and Vivo replaced it in 2016.
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