Chinese smartphone maker Oppo has bagged the sponsorhip rights of the Indian Cricket team.
The Board of Control for Cricket in India (BCCI) announced that Oppo Mobiles has signed a 5-year deal worth Rs 1,079.29 crore. This means that Oppo Mobiles branding will now be featured prominently on the Indian Cricket team jerseys and kit.
Sky Li, Global VP & President of Oppo India said, "Cricket in India is not just a sport, but also a way of life and culture, especially amongst the youth. The Indian National Cricket Team is the essence of cricket in India and the team's spirit of marching forward and pursuing newer heights is highly consistent with OPPO's pursuit of products with unmatched photography experience."
Sky added, "The Indian national team receives high reputation and influence among young people. By partnering with the team, OPPO will not only further enhance its connection with the young consumers, but also engage with the country's youth in its endeavor of providing them with the outstanding selfie-led photography experience."
The company will be replacing Star India, the current sponsor, from April 1.
Vivo Mobiles was the second highest bidder, which bid Rs 768 crore.
In 2013, Star India had bagged the team sponsorship for all home bilateral and domestic matches of the Indian cricket team. At the time, BCCI had fixed the reserve price at Rs 1.50 crore. Star India paid Rs 1.92 crore for each bilateral match and R61 lakh for every international match.
Prior to Star India, Sahara India was the highest paying sponsor of the team, at Rs 3.34 crore per match.