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VIVO Back as Title Sponsor for Indian Premier League ( IPL)
The Chinese mobile and technology brand VIVO has returned as the title sponsors of IPL for 2021 edition.
” VIVO is back with us “ announced by the Indian Premier League Governing Council Brijesh Patel at the IPL 2021 auction in Chennai.
In 2018 , VIVO acquired the IPL title sponsorship for Rs- 2,199 crore in the five year deal.
However, military clashes at the Indian – China border in June 2020 , led VIVO to pull out as sponsor of the IPL.
VIVO was then replaced by Indian online gaming platform “Dream 11” in the 2020 season.
In 2020, IPL signed for up Dream 11 for Rs- 222 crore for one season.
They had been getting Rs- 440 crore per year from VIVO.
The title sponsorship forms a key part in the IPL’s revenue sharing agreement with Franchises :
- 50% of the title sponsorship money goes to the eight Franchises.
- It is understood that each Franchise earns over INR 20 crore ( approx) per year from the title sponsorship.
At auction several records were broken this year in IPL 2021:
- Chris Morris bagged a Rs- 16.25 crore contract from Rajasthan Royals to become the most expensive player in IPL history
- Krishnappa Gowtham, at Rs – 9.25 crore become, the most expensive uncapped Indian player in the IPL history.
- He was lapped up by Chennai Super Kings
- Sachin Tendulkar’s son Arjun Tendulkar went to Mumbai Indians at the base price of Rs- 20 lakh
- Totle of 57 players were sold at the auction that included 22 overseas professionals
Important takeaways of IPL for all competitive exams :
- First edition : 2008
- Most runs : Virat Kohli
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