Wednesday, 07 December 2022

Vivo transferred IPL title rights to Tata

Vivo transferred IPL title rights to Tata

Vivo Chinese mobile Company has pulled out as IPL's title sponsor, and the Board of Control for Cricket in India (BCCI) will replace it with Tata. The decision was taken at the Governing Council meeting of the IPL on Tuesday (January 11).

Following the Governing Council meeting, IPL chairman Brijesh Patel confirmed that the Tata Group is coming to Cricbuzz. "Vivo has exited, and the Tatas will be title sponsors."

Patel also disclosed that Governing Council had approved the Letter of Intent to be issued to CVC Capital, whose acquisition of the Ahmedabad franchise has been under a cloud for over a couple of months. "The Governing Council has approved the CVC acquisition of the Ahmedabad team and, we will issue the LoI today (January 11)," he further said.

Vivo transferred IPL title rights to Tata 1Twitter image: @IPL

Read More: BCCI likely to host entire IPL 2022 in Maharashtra as per Reports

Vivo has a couple of years left in its sponsorship deal with the league, and during the period, Tata will remain the main sponsor. The league will now be called Tata IPL.

Vivo had bagged the title rights at INR 440 crore a year in 2018. However, the Chinese smartphone makers had paused the deal for a year in 2020 in the backdrop of the Indo-China diplomatic standoff when the rights were transferred to Dream 11.

The original five-year deal was up to the 2022 season, and it got extended till 2023 because of the one-year break. Following the Governing Council's decision, the Tata Group will step in and remain the title sponsor for the 2022 and 2023 seasons.

Incidentally, the Governing Council, primarily called to discuss the LoI to the CVC Capital, has also discussed the dates of the mega auction, and the IPL chairman confirmed that it would be in Bangalore on February 12, 13. However, the BCCI has not decided how much time to give the two new teams for signing players. They are set to be given at least a couple of weeks, and formal letters are expected to be issued to the Lucknow and Ahmedabad franchises in a day or two.

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