TATA group, India’s biggest business organization is to replace the Chinese smartphone manufacturer VIVO as the title sponsor of IPL. The concerning authority decided this on Tuesday.
Brijesh Patel (IPL chairman) said- “Yes, Tata group is coming in as IPL title sponsor”
VIVO signed a 2200 crore rupees deal for the title rights from 2018 to 2022. The military of India and China clashed in the Galwan ghati in 2020 and as a result, VIVO took a break of 1 year. Dream11 replaced VIVO as the title sponsor that year in IPL.
A source from BCCI said that-
“This was supposed to happen sooner or later as Vivo’s presence was bringing bad publicity for both the league as well as the company. With negative sentiment around Chinese products, the company had to pull out of the sponsorship with one season left for the deal to be completed,”.
The BCCI here will not face any loss of money because an amount of 440 crore rupees is still there for the annual sponsorship. This amount will be paid by the new sponsor.
This is to be noted that the BCCI will call an invite for to the bidders for the fresh tender. This invitation will be for the next cycle of IPL starting from 2023. Therefore, this deal is only for 2022.
The Economics of IPL sponsorship
Out of the total money paid to the BCCI, it will keep 50% of the amount and the rest 50% of the amount will be distributed the teams playing in the league. 10 teams will be facing each other in the league matches of IPL 2022.-- Advertisement --