OPPO Smartphones company, has won the Indian cricket team sponsorship rights for a five-year deal, starting April 1 2017. The Mobile manufacturer will pay Rs 1079 crore for the duration of their contract having routed the only other bid of Rs 768 crore from Vivo mobile manufacturer. The minimum reserve price was set by the BCCI at Rs 538 crore.
The five - year deal period began on 1st April 2017 and continues until 31st March 2022, during which Team India play 14 home series and 20 overseas series, which also contains the ICC Champions Trophy, ICC Cricket World Cup and the World T20 matches.
"Star India gave us 203 crore in four years. OPPO has paid us 1079 crore over five years, which far exceeds the previous highest (Contract)," said BCCI CEO Rahul Johri. "It really shows the true value of Indian cricket and the belief that companies have in Indian cricket. Because only once you have belief can you put in that kind of amount."
"OPPO, VIVO, Star India , PayTM, Hero , Group M, DNA, DBS Bank and Encompass" - had obtained the tender document following which two - OPPO and VIVO-submitted bids. Johri then went on the explain the process by which the winning bid was selected. "The tenders come into envelopes, there is a technical evaluation and a financial bid. First, the technical bids are opened and examined for completion in terms of legal requirements by the BCCI lawyers and lawyers from Cyril Amarchand Mangaldas. And, all financial aspects of the bid are evaluated by Deloitte. Once Deloitte tabulated the final numbers, we showed both parties each other's numbers and the one with the higher number gets." Rahul Johri added.