One of the largest business firm Tata Group is all ready to replace Chinese mobile manufacturer Vivo as the title sponsor of the Indian Premium League from this year, IPL chairman of Tata group Brijesh Patel confirmed officially and the event’s governing council have decided this in a meeting on Tuesday.
Jay Shah the BCCI secretary stated that “This is definitely a significant occasion for the BCCI IPL as Tata Group is the personification of Global Indian enterprise with over 100 years of legacy and operations in more than 100 countries across six lands. It’s now Tata IPL he said!
He further said BCCI like the TATA Group is keen to promote the spirit of cricket across international borders, and the rising admiration of IPL as a worldwide sporting franchise stands demonstration of the BCCI’s efforts. We are really pleased 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 cricket and the IPL forward to greater heights.
Tata IPL is all set to replace Vivo as title sponsor in 2022
So, the good news is Tata group is coming in as IPL title sponsor, so it’s now Tata IPL, and it is confirmed by IPL chairman Brijesh Patel PTI. Before Vivo had a deal of Rs 2200 crore for title sponsorship rights from starting (2018-2022) but after the 2020 Galway Valley military face-off between the Indian and Chinese Army soldiers, the band took a break for a year with Dream11 replacing it.
However, Vivo was back as IPL title sponsor in 2021 even as gossip fumed that they were looking to hand over the rights to an appropriate auction-goer and the BCCI permitted the move.
The financial side of sponsorship is that BCCI keeps 50 percent of the money and allocates the rest among the IPL franchises which are now 10 with the accumulation of two new teams this year. It is understood that fresh proposals for the next cycle will be invited in 2024. According to a source “The Tata group desires to be title sponsors for five years but their requirements to be a bidding process in place. But the BCCI is considering having a Right Match choice for the Tata Group in case they are interested in the next cycle,”