Business giant Tata Group will replace Chinese smartphone company Vivo as the title sponsor of the Indian Premier League (IPL), the Governing Council announced on January 11 (Wednesday).
Incidentally, Vivo acquired the rights for INR 440 crores in 2018. However, they had pulled out of IPL sponsorship in 2020 due to the rising anti-China sentiment in the country. While VIVO returned as the chief sponsor in 2021, the association is now set to end completely ahead of the 2022 edition.
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. From now onwards, the league will be called Tata IPL.
“Vivo has exited and the Tatas will be title sponsors,” IPL chairman Brijesh Patel confirmed to Cricbuzz.
Brijesh Patel also revealed that Governing Council has 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 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.
The Governing Council also discussed the dates of the IPL 2022 auction and the chairman revealed that as reported it will take place in Bangalore on February 12 and 13. However, the BCCI has not decided on how much time to be given to the two new teams for signing players.