Digital Desk: From the 2022 season onwards, Chinese mobile company VIVO’s affiliation with the IPL is slated to end, with Tata replacing it as its official sponsor. On Tuesday, the IPL Governing Council decided about the change in sponsorship.
Due to escalating anti-China sentiment in the country, VIVO decided to pull out of the IPL sponsorship in 2020. But, VIVO returned as the primary sponsor in 2021 and now the association is scheduled to terminate fully ahead of the 2022 edition, according to Cricbuzz.
In 2018, VIVO and the BCCI entered into an agreement of Rs. 440 crores for the title sponsorship of the IPL. The sponsorship deal was supposed to end after the IPL 2023 season, but the two sides are breaking up early.
According to reports, VIVO has requested that its IPL championship sponsorship agreement with the BCCI be transferred to Tata. At the GC meeting, the same was approved.
For the 2022 and 2023 seasons, Tata will be the title sponsor of the franchise-based cricket league. However, these two seasons’ actual financials are yet to be published. The sponsorship arrangement will be up for grabs again after the 2023 season.
“Vivo requested that the IPL sponsorship arrangement be terminated, and the GC authorized it. The BCCI will continue to get the same fee for the title rights,” a source informed Cricbuzz.
The IPL chairman announced, “Vivo has gone and the Tata’s will be title sponsors. The Letter of Intent (LOI) for the Ahmedabad and Lucknow franchises has also been issued.”
The GC has approved the CVC acquisition of the Ahmedabad team, and the letter of intent will be issued today (January 11), he added.