Tata Group Replaces Vivo as IPL’s Title Sponsor
Tata group to replace Vivo as IPL title sponsor from this year. Watch our latest video for all the details.
The Indian Premier League (IPL) is India’s biggest cricket tournament. There are many companies that sponsor IPL. A title sponsor is a company that gives funds to an event in exchange for the name of the company to appear prominently before the title of the event. Vivo had a lot of Rs 2200 crore for title sponsorship rights from 2018-2022. This is why the name of the IPL tournament was Vivo IPL at that time.
However, after the 2020 Galwan Valley military face-off between the Indian and Chinese Army soldiers, people in India were very unhappy that a Chinese company like Vivo was the title sponsor of IPL. That’s when Vivo stepped back as the title sponsor and Dream11 became the title sponsor for IPL. However, Vivo was back as the IPL’s title sponsor in 2021. There were many rumours that the BCCI was looking for a new company to be their Title sponsor.
Yesterday 11 January 2022, the BCCI announced that the Tata Group, is all set to replace Vivo as the Indian Premier League’s title sponsor from this year for 2 years. Tata is paying Rs 670 crore for 2 years. BCCI keeps 50% of the money and distributes the rest among the IPL teams which are now 10 as two new teams this year. BCCI secretary Jay Shah said, “This is a big deal for the BCCI as the Tata company is India’s largest company which is working for more than 100 years and operates in more than 100 countries. We are truly happy that Tata believed in the IPL and together with the Tata Group, we will look to take Indian cricket and the IPL forward to greater heights.”
