Vivo bids a mindboggling Rs 2,199 Crores to retain IPL title sponsorship till 2022

Chinese smartphone manufacturer Vivo is willing to splash a hefty cash for the Indian Premier League (IPL). After coming on board as the title sponsors of the cricket competition two years back, Vivo has bagged the rights to be the title sponsors for the coming five years of the cricket league.

They had shelled out a whopping sum of Rs 200 crore per annum for the past two years, but the recent figures are mind-bogglingly high.

The IPL will get richer with approx Rs 400 crore coming annually for the next five years from Vivo. That's an unreal 554% increase from their previous contract.

Vivo put forward the total figure of Rs 2,199 crore to the Board of Control for Cricket in India (BCCI) for the period of next five years, ending July 31, 2022.

Timeline of IPL title sponsors and their contract details