The Indian Premier League’s (IPL) partnership with Chinese smartphone firm VIVO, who is the current IPL sponsor, is scheduled to terminate, with one of India’s biggest corporates, Tata, reportedly replacing VIVO as the tournament’s official sponsor beginning in IPL 2022 season.
The decision to replace VIVO with Tata was taken by the Board of Control for Cricket in India (BCCI) at the Governing Council meeting of the IPL on Tuesday (January 11). The Governing Council accepted the Chinese handset company’s proposal to transfer ownership rights to Tata at the meeting. Vivo’s sponsorship arrangement with the league has a few years left on it, and Tata will remain the league’s principal sponsor at that time. As a result, the league will now be known as the Tata IPL.
“Yes, Tata group is coming in as IPL title sponsor,” IPL chairman Brijesh Patel confirmed the development to PTI.
Vivo secured the IPL title rights in 2018 for a staggering INR 440 crore per year. When the rights were handed to Dream 11, the Chinese smartphone producers stopped the contract for a year in 2020 due to the Indo-China diplomatic crisis.
The initial five-year contract was set to expire after the 2020 season, but due to the one-year sabbatical, it was extended until 2023. The Tata Group will take over as title sponsor for the IPL 2022 and 2023 seasons as a result of the Governing Council’s decision.
In other news, the Governing Council has authorised the issuance of a Letter of Intent to CVC Capital, whose acquisition of the Ahmedabad franchise has been dogged by controversy for some months.
The IPL chairman stated that the mega auction will take hold in Bangalore on February 12 and 13. The Governing Council also discussed the dates of the mega auction. The BCCI, on the other hand, is yet to decide how much time the two new teams would have to sign players.
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