Vivo Mobiles have bagged the title sponsorship of famous t20 cricket league IPL. After Pepsi co’s sudden pulled off from Indian Premier League’s title sponsorship there were several companies in the race to get the sponsorship. VIVO and PAYTM were the leading candidates for IPL sponsorship but VIVO Mobiles won it.
In a press release BCCI said, “The IPL title sponsorship right has been assigned to M/S Vivo mobiles. Vivo is to give the Bank Guarantee in next ten days.”
As per reports PepsiCo took the decision of withdrawing from IPL before two weeks ago due to the involvement of fixing in sport. Pepsico signed contract with Indian Premier League as title sponsor for the time period of five years from 2013 to 2017. Company paid 396.8 crores for this title sponsorship. But after allegations of fixing on two teams, company took back step and removed themselves from IPL sponsorship.
Rajasthan Royals and Chennai Super Kings were the teams who had been judged in the 2013 IPL scandal.
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The Justice Lodha committee has suspended both teams for two years.
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Earlier DLF was the title sponsor for IPL from 2008 to 2012.