MUMBAI: The Tata Group is set to replace Vivo as Indian Premier League title sponsor for the remaining two years that the Chinese mobile major has left on its five-year agreement with the BCCI.
“Yes, Tata group is coming in as IPL title sponsor,” IPL chairman Brijesh Patel confirmed to PTI after the governing council meeting Tuesday.
Vivo had a deal of Rs 2,200 crore for title sponsorship rights from 2018-2022 but after the 2020 Galwan Valley military face-off between the Indian and Chinese Army soldiers, the brand took a break for a year with Dream11 replacing it (at half the price).
However, Vivo were back as IPL tittle sponsor in 2021 even as speculation raged that they were looking to transfer the rights to a suitable bidder and that the BCCI had approved the move.
The IPL is all set to be a 10-team tournament in 2022 as RPS Goenka group bagged the Lucknow-based franchise with a highest bid at ₹7,090 crore while the Ahmedabad-based IPL franchise was won by a CVC Capital Partners-owned subsidiary with a winning bid at Rs 5,625 crore.
“The two teams have been cleared and we will issue the Letter of Intent (LoI) after tomorrow’s GC meeting. The teams are through by all practical purposes,” Patel had told Cricbuzz on Monday.
As per reports, the 2022 mega auction will take place in Bengaluru on 12th and 13th February.
