Vivo Mobile steps in as title sponsors of IPL

Indian Premiere League (IPL) has been in the news a lot in the previous some week. But the biggest drawback for IPL this season has been Pepsico which had been the title sponsor of IPL withdrawing its contract this year.

The Working Committee BCCI has announced on Sunday that the IPL title sponsorship right has been assigned to M/S Vivo mobiles. Vivo will have to give the bank guarantees in the next 10 days. The Chinese mobile phone brand Vivo will take the place of Pepsico for the next 2 years till 2017.

Even after a number of discussions between the BCCI and Pepsico, Pepsi did not agree to be a part of IPL as they citied irreconcilable differences. They emphasized on the negative publicity that IPL has been associated with which will also reflect on Pepsico imagery. 

The Working Committee meeting of BCCI have also announced the extension of Nike Contract as the official apparel of the Indian Cricket Team.

The other announcement has been the suspension of Rajasthan Royals(RR) and Chennai Supper King(CSK). Both the teams will only be allowed to be part of IPL after two years of suspension. BCCI to replace the loss of their two teams will float tenders and invite bids for two new teams to be part of the Indian Premiere League(IPL) for the coming 2016 and 2017(2 years).