Mumbai, Oct 18: The next year's Indian Premier League (IPL) will have a new title sponsor with the exit of Pepsi. Vivo mobiles will be the new partner of the Twenty20 tournament, the Board of Control for Cricket in India (BCCI) announced today.
At the BCCI's Working Committee meeting in Mumbai on Sunday (October 18), it was decided to award the title sponsorship to Vivo mobiles. Pepsi, last week, exited from its 5-year Rs 396-crore deal 2 years early after the league was hit by several controversies. Pepsi signed the IPL title sponsorship deal in 2012 for 5 years (till 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," BCCI said in a media advisory.
There were other decisions taken including 2 new teams to replace the suspended Chennai Super Kings (CSK) and Rajasthan Royals (RR).
The decisions taken at BCCI's Working Committee meeting on Sunday
# The Annual General Meeting of the BCCI will be held on Monday, 9th November 2015 at the BCCI Headquarters, Mumbai.
# The Justice Lodha committee interim report will be implemented fully. The two franchisee teams, Chennai Super Kings and Rajasthan Royals remain suspended for two years. BCCI will float tenders and invite bids for two new teams to replace CSK & RR in the Indian Premier League for 2016 and 2017 (2 years).
# The Treasurer's Office will start operations from the BCCI Headquarters, Mumbai at the earliest.
# M/S Gokhale & Sathe has been appointed as the internal auditors of the BCCI. They replace M/S P.B Vijayragahavan & Company.
# The Board has appointed M/S Deloitte for 'Project Transformation'.
# The Board has appointed M/S Price Water House Cooper as the independent agency to due the diligence for the utilisation of funds provided by BCCI to the state associations.
# BCCI rules regarding conflict of interest and the amendments to the Rules and Regulations of the Board are being proposed for the consideration at the Annual General Meeting.
# Revival of the National Cricket Academy as the centre of excellence is the top most priority of the BCCI. Board will look at the lands offered by KIADB. Mr. MP Pandove (Chairman NCA ), Mr. Rajeev Shukla, Mr. Anirudh Chaudhry (Hon.Treasurer-BCCI) and Mr. Amitabh Choudhary (Joint Secretary - BCCI) will inspect the lands offered by KIADB and finalise the deal within one month.
# Nike Contract as the official apparel sponsors of the Indian Cricket Team has been extended.
# The IPL title sponsorship right has been assigned to M/S Vivo mobiles. Vivo is to give the Bank Guarantee in next ten days.
BCCI will display the following information on its website
1. Names of the players and Umpires receiving monthly gratis from the BCCI and the amounts.
2. Names of the players who have been paid one time benefit from the BCCI and the amount.
3. Information on Medical Benefit Scheme for retired cricketers and umpires.
4. All payments made by BCCI of more than 25lakhs.