The BCCI have confirmed that Chinese smartphone maker Vivo will remain the title sponsors of the Indian Premier League (IPL) for two seasons. The partnership will involve cooperation in sports events and other marketing campaigns, a statement from the cricket governing body, which came on Tuesday, said.

"The Board of Control for Cricket in India (BCCI) today announced its association with Vivo, the premium global smartphone manufacturer, for title sponsorship of the Indian Premier League (IPL). Vivo fulfilled their obligation of presenting the bank guarantee to the BCCI and confirmed the title sponsorship rights," the BCCI said in a statement.

"In the coming two IPL seasons (2016 and 2017), Vivo and IPL will have extensive cooperation in terms of sports events, on-ground activations and marketing campaigns," the statement added.

IPL chairman Rajeev Shukla hopes the new sponsors will bring fresh energy to the lucrative cricket tournament in India from next year.

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"We are delighted to have Vivo joining us as the title sponsor for IPL for next two years. IPL will now be called 'Vivo IPL.' They are one of the most innovative smartphone brands in the world and I am sure they will bring fresh energy to IPL," Shukla was quoted by the PTI.

BCCI secretary Anurag Thakur also praised the association: "We welcome Vivo to IPL. IPL is all about opportunities and the exhibition of talent. Vivo, as a brand, symbolises both. Just like the IPL, in a very short span they have created a niche and legacy in their market. I am sure this will be a long and enriching affiliation for both stakeholders."

Beverage giants PepsiCo remained the title sponsors of the Twenty20 event from 2013, but owing to the infamous IPL spot-fixing and betting incidents, Pepsi decided to call it quits on their association.