VIVO Replaces PepsiCo as Indian Premier League Title Sponsor

Chinese smartphone maker Vivo replaced PepsiCo as the title sponsor of the high-profile Indian Premier League, a change necessitated by the beverage giant's sudden pullout from a five-year deal that was to end in 2017.

"The IPL title sponsorship right has been assigned to M/S Vivo mobiles. Vivo is to give the Bank Guarantee in next ten days," the BCCI said in a statement announcing decisions taken at its all-powerful working committee meeting.

PepsiCo became title sponsors of the IPL in 2013 after they bid a whopping Rs 396.8 crore rupees for five seasons. Prior to Pepsi, DLF had paid Rs 200 crore to become title sponsors of the tournament since its inception in 2008 till 2012.

Earlier in the month, PepsiCo had informed IPL's Chief Operating Officer Sundar Raman about the decision to withdraw. However, IPL chairman Rajeev Shukla had said that the Pepsi pullout will have no bearing on the tournament as they were already in talks with other sponsors.

"We are in talks with other sponsors as well, so the title deal with Pepsi is not that big an issue. They have certain points and we are going to settle them amicably. They have been a very good partner all this while and we do not want to disturb our relationship with them. Whatever is going to happen is going to happen in a very smooth manner," Shukla had said.

However, Pepsi's period as the title sponsor has witnessed a turbulent time. In the 2013 season of the IPL, Ankeet Chavan, Ajit Chandila and Sreesanth were arrested over charges of spot-fixing. This resulted in accusations that Gurunath Meiyappan, Chennai Super Kings team principal and Raj Kundra, co-owner of Rajasthan Royals, were involved in betting.

A commission appointed by then BCCI chief N Srinivasan gave Meiyappan and Raj Kundra a clean chit, saying there was no evidence of wrong doing against them. Srinivasan said CSK team official Meiyappan was a "mere cricket enthusiast." (IPL Scandal: Chennai, Rajasthan Suspended; Meiyappan, Kundra Banned for Life - Top 10 Developments)

The BCCI panel's decision to let off Meiyappan and Kundra was challenged by Cricket Association of Bihar secretary Aditya Verma in the Bombay High Court. Srinivasan was charged with shielding his son-in-law Meiyappan and others. In July 2013, the Bombay High Court found the BCCI probe panel illegal and said the report was null and void.

In August 2013, the BCCI moved the Supreme Court challenging the Bombay High Court order. In October, the top court appointed the three-member Justice Mukul Mudgal committee to investigate, but not impose punishment.

Earlier in July, the Supreme Court appointed the Justice RM Lodha panel and the quantum of punishment was decided, with CSK and RR being banned from the tournament for two years with Meiyappan and Kundra banned for life.

Among other decisions taken at the working committee meeting, Nike was retained as the apparel sponsor of the Indian cricket team. "Nike Contract as the official apparel sponsors of the Indian Cricket Team has been extended," the BCCI said.

(With inputs from Anurag Dwary)