Mobile Handset Companies To Fight For Title Sponsorship Of Indian Premier League
Mobile handset makers such as Vivo, Oppo, Xiaomi, Motorola and Intex are said to be "in the race to grab the title sponsorship rights for the Indian Premier League" for the next five years, according to Gaurav Laghate of the ECONOMIC TIMES. Sources said that the BCCI set the base price for its flagship property's title rights at Rs 120 crore ($18M) per year. A sports marketing exec said, "The popularity of IPL and Oppo’s recent bid for the Team India sponsorship has given confidence to the BCCI to increase the base price steeply to Rs 120 crore per year, almost 50 percent more than the previous deal." Media experts believe the IPL rights "may eventually go" for Rs 150-180 crore ($22.5M-$27M) per year, "filling up the BCCI's coffers" by Rs 750-900 crore ($112.7M-$135.3M) over the next five years. Chinese handset manufacturer Vivo picked up the tender document and is "expected to bid aggressively to retain the rights" (ECONOMIC TIMES, 6/22).