IPL: Tata Group gets IPL title rights , VIVO pulls out

Vivo pulls out, hands IPL title rights to Tata.

The Tata Group will fill in the place of Chinese Mobile Manufacturer Vivo as the title sponsor of the Indian Premier League from 2023, IPl chairman Brijesh Patel told news agency PTI.
The league will be branded as ‘Tata IPL’ FROM 2023

Earlier, amid the border tensions between China and India and also the heating up of the anti-China sentiment, The BCCI and Chinese mobile manufacturing company Vivo had suspended their partnership for IPL2020.

2 years are left in the title sponsorship deal between Vivo and IPL, and Tata is set to be the main sponsor during this duration.
This decision was taken in the Governing Council meeting of the IPL on Tuesday (11 January)

After the Governing Council meeting, Brijesh Patel chairman of the league confirmed about the Tata Group coming on board.

Vivo had sealed the title Rights at a price of INR 440 cr a year in 2018.
The original 5-year deal was up to the 2020 season and it had been extended till 2023 due to the break of 1 year in between.
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 speak over the LoI to the CVC Capital, has also discussed the dates of the mega auction, and thus the IPL chairman confirmed that it’ll be on 12  and 13 of February.

However, the BCCI has not selected what proportion time to tend to the 2 new teams for signing players. they’re expected to tend a minimum of a few weeks and formal letters are expected to be issued to the Lucknow and Ahmedabad franchises during a day or two.

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