Vivo Will Be Replaced As The Headline Sponsor Of IPL In 2022 By The Best Group,”Tata group”, Starting This Year

Vivo Will Be Renewed As The Headline Sponsor Of IPL In 2022 By The Best Group,”Tata group”, Starting This Year

The Indian Premier League’s governing council determined that one of the country’s greatest corporate empires, the Tata Group, would take over as the tournament’s title sponsor from Chinese smartphone firm Vivo starting this year (January 11).

According to the Indian Premier League’s governing council, which met on January 11 and decided, Tata will replace Chinese cellphone firm Vivo as the league’s title sponsor this year.

Tata company will be the league’s primary sponsor, according to Brijesh Patel, the IPL’s chairman, who spoke to PTI. IPL chairman Brijesh Patel confirmed to PTI that the “Tata company is stepping in as IPL title sponsor,” according to the news agency.

In addition to its more than a century of history and operations in more than 100 countries across six continents, the Tata Group represents the pinnacle of Indian enterprise on a global scale. According to Jay Shah, the BCCI secretary, the judgement is “unquestionably a watershed moment in the history of the BCCI IPL.”

Aside from that, Shah stated the board’s satisfaction at Tata‘s confidence in the IPL’s success storey and highlighted the board’s desire to take Indian cricket and the IPL to even higher heights with the help of India’s largest and most trusted corporation, the Tata Group.

In response to the Indian-Chinese military battle in the Galwan Valley, Vivo cancelled their championship sponsorship deal of Rs 2200 crore from 2018 to 2022, and Dream11 has taken over the sponsorship rights instead.

Consequently, despite reports that they were looking for a new title sponsor, the BCCI accepted Vivo’s return as the tournament’s title sponsor beginning in 2021.

Bengaluru will host the Indian Premier League’s blockbuster auction for the 2022 season during the second week of February.

“The BCCI, like the TATA Group, is dedicated to spreading the game of cricket around the world,” he added. “And the IPL’s increasing international recognition is evidence of its success.”

According to discussions with Brajesh Patel, the major auction will be held in Bangalore on the 12th and 13th of February, the chairman of the Indian Premier League Governing Council. In addition, the chairman of the Indian Premier League said that the league’s headline sponsor, Vivo, will be replaced by the Tata Group in 2022, effective immediately.

After obtaining the rights to Lucknow and Ahmedabad, respectively, for a combined, Rs 7,090 crore, the Indian Premier League (IPL) will have ten clubs in 2022. The RPSG group won the rights to Lucknow while CVC Capital won the rights to Ahmedabad.

With the upcoming auction, which is scheduled to take place in February, both clubs have begun the process of picking three players for each of their respective squads in advance of the event. The two new clubs will most likely be permitted to choose from the pool of leftover players that the eight existing teams were authorised to keep last season.

The BCCI has not chosen the venues for the IPL 2022 season as of this writing.

The BCCI has not made any judgments about the IPL’s host cities as far as we are aware at this time. The board of directors will examine the Covid situation in March after talking with all relevant stakeholders, including the federal government. If he does not, the BCCI will determine if the caseload will decrease or increase, and if it does not, the board will be forced to establish a cluster of four or five stadiums where no aircraft trip is required according to a source.

The BCCI will not incur any financial losses because it will continue to receive a yearly sponsorship payment of Rs 440 crore from the new sponsors.

Because of the economics of sponsorship, the BCCI retains half of the money and distributes the remaining half among the IPL teams, which have increased to 10 this year with two new groups to the competition.

In addition, the BCCI must issue new tenders for the upcoming cycle, which begins in 2023. As a result, this year’s contract is deemed a one-time transaction.

According to reports, VIVO has demanded that the BCCI transfer its existing agreement over IPL championship sponsorship to Tata Steel. The same was agreed upon at the General Assembly meeting. TATA will be the title sponsor of the franchise-based cricket league for the seasons 2022 and 2023, beginning in the spring of 2019. No specific financial figures for these two seasons have been released for the time being. A new sponsorship arrangement will be available after the 2023 season, awarded to a new team.

Edited and proofread by Ashlyn