MUMBAI: That the the transfer of title sponsorship rights for the Indian Premier League for the next two seasons would in no way negatively impact the Board of Control for Cricket in India was always a given.
But that the Indian cricket board would come away from this with an additional Rs 128 crore added to its coffers by the end of IPL 2023, which was when incumbent title sponsor Vivo’s five-year contract ended, not quite so.
Be that as it may, Sportstar has accessed the sponsorship transfer documents and the math works thus:
Vivo’s title sponsor rights were worth an average Rs 440 cr per annum over 5 years (sum total Rs 2,190 crore).
Tata will pay an average of Rs 335 crore per year – Rs 301 crore as title rights fee and an additional Rs 34 crore as incremental fee for additional matches (from 60 games to 74 games with the addition of two new IPL teams).
Vivo’s commitment for the next two years pre title rights transfer – Rs 484 crore for 2022 and Rs 512 for 2023 (Rs 996 crore).
Vivo payment post title rights transfer – Rs 450 crore (including 6% “assignment fee”).
This increases Board’s total earning to Rs 1,124 crore over the next two seasons (instead of Rs 996 crore).
“This is indeed a momentous occasion for the BCCI IPL as the Tata Group is the epitome of global Indian enterprise with an over 100 year old legacy and operations in more than 100 countries across six continents,” BCCI secretary Jay Shah said in a statement.
“The BCCI, like the TATA Group, is keen to promote the spirit of cricket across international borders and the growing popularity of the IPL as a global sporting franchise, bears testimony to the BCCI’s efforts. We are truly happy 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.”
Lucknow, Ahmedabad franchises receive formal clearance
IPL’s two new teams – Sanjiv Goenka’s RPSG Group for the Lucknow franchise and CVC Capital Partners’ Ahmedabad team, on Tuesday received the formal clearance from the BCCI.
With the Letter of Intent (LoI) issued to both the new entrants, the IPL governing council has given the two new franchises till “5pm on January 22″to submit their list of three players they have selected ahead of the IPL players’ mega auction.
Auction on Feb 12, 13
The IPL GC will have the players’ mega auction in Bengaluru on February 12 and 13.
Tournament in India
The GC expects to host the tournament in India, with the plan as of now being for Mumbai and Pune to be the host venues.
Related report
IPL title rights transferred from Vivo to Tata Group: Brijesh Patel
