Tata Group to replace Chinese company Vivo as new title sponsor of IPL!
The IPL Governing Council met where it was confirmed that the Chinese smartphone makers are all set to be replaced by the Tata Group as the new sponsors of IPL
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New Delhi, Jan 11: In what comes as a major development ahead of the start of the new season of the Indian Premier League (IPL) this year, TATA will replace VIVO as the main sponsor for the upcoming edition of the tournament, IPL chairman Brijesh Patel confirmed.
The IPL Governing Council met on Tuesday where it was confirmed that the Chinese smartphone makers are all set to be replaced by the Tata Group as the new sponsors of the T20 league which will head into its 15th season this year.
"Yes, TATA will replace Vivo as the title sponsor," Patel told ANI. Vivo still has two years left in its sponsorship deal with the league and as a result, during this period, Tata will remain the main sponsor. The league will now be known as 'Tata IPL' from the 2022 season.
In 2018, Vivo won the title rights of the IPL for a whopping sum of Rs 440 crore (INR 4.4 billion) till the 2020 season. However, Vivo had to pull out for a year in 2020 due to the tensions after India-China diplomatic standoff. Dream11 was roped in as a sponsor for a year while Vivo's deal was extended till 2023 due to the 1-year pause.
However, the Tata Group will now be the main sponsor for the 2022 and 2023 seasons. The Indian Premier League which kicked off in 2008 has gone on to become one of the most lucrative sporting events in the world and is the richest T20 league by a fair margin.
The new season of the Indian Premier League is likely to get underway in April this year. Ahead of the 2022 edition, the Board of Control for Cricket in India (BCCI) and the IPL governing council is all set to conduct a mega player auction for the ten teams.
While existing eight teams have already revealed the list of retained players, the two new teams - Ahmedbad and Lucknow can pick a maximum of three players each from the pool of non-retained ones ahead of the mega auction. The mega auction is set to be conducted in February this year.
Indian Premier League's (IPL) two new teams -- Sanjiv Goenka's RPSG Group for the Lucknow franchise and CVC Capital's Ahmedabad team on Tuesday received the formal clearance from the Board of Control for Cricket in India (BCCI). The formal clearance was given after a meeting of the IPL Governing Council on Tuesday and both Ahmedabad and Lucknow have also been given a time frame for player signing before the mega auction takes place.