Due to Vivo’s desire to exit the Indian Premier League (IPL), the title sponsorship is likely to change. The Board of Control for Cricket in India (BCCI) is expected to replace the Chinese handset manufacturer with Tata.
The decision was made at the IPL Governing Council (IGC) meeting on Tuesday, according to reports.
- New Entity
The title sponsor for the upcoming 2022 season has been narrowed down to Tata. According to a source, a couple of BCCI executives who attended the Governing Council meeting revealed that the competition will now be branded as the ‘Tata IPL.’
Vivo’s plea to transfer ownership rights to Tata, one of India’s largest corporations, was granted by the IGC. The former’s sponsorship arrangement with the league has a few years left on it. Tata will, however, continue to be the primary sponsor throughout this time.
Vivo’s sponsorship arrangement with the league has two more years left, although Tata will be the primary sponsor. The league will be known as Tata IPL beginning with the 2022 season.
Vivo secured the title rights in 2018 for INR 440 crores per year. Following the diplomatic impasse between India and China in 2020, the contract was put on hold for a year. Tata will be the title sponsor for the years 2022 and 2023 now that they have been released.
IPL chairman Brijesh Patel confirmed the news, saying, “Yes, Tata group is coming in as IPL title sponsor.”
“This is a momentous event for the BCCI IPL as the Tata Group is the essence of global Indian company with an almost 100-year-old tradition and activities in more than 100 countries across six continents,” said Jay Shah, Honorary Secretary, BCCI.
“The BCCI, like the TATA Group, is determined to spread the spirit of cricket across international borders, as evidenced by the IPL’s growing appeal as a global athletic franchise.”
“We are ecstatic that one of India’s largest and most trusted business groups has invested in the IPL’s growth narrative, and we look forward to working with the Tata Group to elevate Indian cricket and the IPL to new heights,” Shah said.
“Yes, after learning that VIVO intends to terminate its deal, we are considering TATA as the headline sponsor. Because there are two years left on the contract, Tata will be the primary sponsor for the remainder of the time “According to a BCCI official.
The Indian Premier League’s (IPL) two new franchises, Sanjiv Goenka’s RPSG Group for the Lucknow franchise and CVC Capital for the Ahmedabad squad, obtained formal approval from the Board of Control for Cricket in India on Tuesday.
The Governing Council, which was convened largely to examine the letter of intent with CVC Capital, also discussed the mega auction dates, with the IPL chairman confirming that it will take place in Bangalore on February 12 and 13.
The BCCI, on the other hand, is still to decide how much time the two new teams will have to sign players. They will be given at least a couple of weeks’ notice, and formal letters will be sent to the Lucknow and Ahmedabad franchises in the next day or two.