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Tata IPL: Vivo Pull Out from IPL title Sponsorship

Tata IPL –

Tata IPL, Vivo IPL

The Indian Premier League (IPL) title sponsor’s VIVO has pulled out and the Board of Control for Cricket in India (BCCI) is all set to replace it with TATA in IPL 2022.

The Board of Control for Cricket in India (BCCI) has decided to exit the cooperation with Chinese mobile manufacturer Vivo as the title sponsor of the Indian Premier League (IPL) formerly and for all and rather unite with one of India’s largest business empires, the Tata Group in IPL 2022.

The decision was take during a meeting held by the event’s governing council on Tuesday, January 11. The league will now be call Tata IPL in IPL 2022.

Soon after the meeting, IPL president Brijesh Patel verified the news and said, “Vivo has exited and the Tatas will be title sponsors,” Cricbuzz reported.

Brijesh Patel further informed that Vivo had a deal of Rs.2,200 crores for the title sponsorship rights of IPL from 2018-2022, however, after the Galwan Valley military face-off between India and China, Vivo took a break for a year with Dream 11 replacing it.

Still, Vivo does have a couple of years left in its backing deal with the league and during this period, Tata will remain the main guarantor and now the cash-rich tournament will be call Tata IPL.

Talking about IPL ever since its commencement in 2008, the tournament has grown from strength to strength from being a bare sporting event to getting the most glamorous periodic event in the nation.

Revenue-wise as well, IPL has grown into one of the most economic leagues and although there are colorful sources of the profit, the most amount is generate from backing which makes up the captain’s share of the income for the league.

The economics of sponsorship is that BCCI keeps 50% of the plutocrat and distributes the rest among the IPL votes which are now 10 with the addition of two new brigades this year.

It’s understand that the deal is only for this year as of now as the BCCI will have to invite fresh tenders for the coming cycle starting 2023.

Vivo as IPL title Sponsor : Background

The rights of IPL title sponsorship were transferred to Vivo, the Chinese Smartphone manufacturer, for Rs.200 crores in 2016 after Pepsi terminated its deal of sponsorship with BCCI in October 2015.

In June 2017, Vivo retained the rights for the next five seasons of the IPL tournament (2018-2022) with a winning bid of Rs.2,199 crores.

Title Sponsorship

IPL’s two new teams-

The news came after IPL’s two new teams- Lucknow and Ahmedabad received their formal clearance from the Board of Control for Cricket in India (BCCI).

IPL 2022 will be the 15th season of the Indian Premier League. It is a professional Twnety20 Cricket league that was established by the BCCI in 2007.

The two new IPL teams can select a maximum of four players- three Indians and one overseas player or two Indians and two overseas players ahead of the IPL 2022 mega auction planned.

Lucknow IPL team, owned by Sanjiv Goenka’s RPSG group is likely to pick up KL Rahul as its captain and two other players- Rashid Khan and Ishan Kishan.

Ahmedabad IPL team, owned by CVC Capital, is likely to pick Hardik Pandya as captain and two other players including David Warner and Shreyas lyer.

JAY SHAH, HONORARY SECRETARY, BCCI said

“This is indeed a momentous occasion for the BCCI IPL as the Tata Group is the epitome of global Indian enterprise with an over 100 time-old heritage and operations in further than 100 countries across six main lands.

The BCCI like the TATA Group is keen to promote the spirit of justice across transnational borders, and the growing fashion ability of the IPL as a global sporting ballot bears evidence to the BCCI’s sweats. We’re truly happy that India’s largest and most trusted business groups have believed in the IPL growth story and together with the Tata Group, we will look to take Indian justice and the IPL forward to lesser heights,”

Tata Company will Pay to BCCI-

As a result, Tata Group will pay the board a substantial quantum (Rs 335 crore per season), while Vivo will pay the remaining quantum including the assignment figure.

“There’s a slight change in the sum because there are more matches this season. Tata being the title guarantor will pay the maturity with Vivo paying the difference, including the assignment figure, “IPL GC president Brijesh Patel said. So, indeed though Vivo has decided out, for the coming two seasons they will pay the BCCI Rs.454 crore.

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