TATA IPL Title Sponsor: The Tata Group, one of India’s largest business conglomerates, will replace Chinese mobile maker Vivo as the title sponsor of the Indian Premier League from this year. The Governing Council of this event took the decision in a meeting on Tuesday. According to media reports, IPL chairman Brijesh Patel has accepted Tata Group’s IPL title sponsor.
There is no official confirmation on the details of the deal yet. A Tata spokesperson declined to provide further details, confirming this with a “yes”.
Vivo had signed a deal worth Rs 2200 crore for title sponsorship rights from 2018-2022, but in 2020 after the military face-off between the Indian and Chinese forces in the Galvan Valley, the brand took a break for a year and Dream11 took a break. Changed it to IPL. However, Vivo was back as a sponsor of IPL in 2021, even as there was speculation that the company was looking to transfer the rights to a bidder in an auction and BCCI approved it. Gave.
According to a BCCI source, “It had to happen sooner or later as Vivo’s presence was not going to bode well for the league as well as the company. With the negative sentiment towards Chinese products, the company had to pull out of the sponsorship. Because there was one season left for the deal.
BCCI will not suffer as it is still assured of an annual sponsorship amount of Rs 440 crore which will now be paid by the new sponsors. What the sponsor means is that BCCI keeps 50 per cent of the money and distributes the rest amongst the IPL franchises which now total 10 with the addition of two new teams this year.
first published:Jan. 11, 2022, 5:07 p.m.