The relationship with Chinese smartphone manufacturer VIVO is likely to conclude, with TATA allegedly succeeding the smartphone brand as IPL’s headline sponsor beginning with the 2022 edition. The league will now be called “TATA IPL”. The decision to remove the partnership was made during the IPL Governing Council meeting.
Due to escalating anti-China viewpoint in the nation, VIVO withdrew its sponsoring of the IPL in 2020. According to sources, when VIVO reappeared as the main sponsor in 2021, the partnership is apparently scheduled to terminate before the 2022 season.
Vivo has exited and the Tatas will be title sponsors: Brijesh Patel
In 2018, VIVO and BCCI reached an arrangement for IPL title sponsors worth INR 440 crore. The sponsorship contract was supposed to end just after IPL 2023 edition, however, the two parties are splitting up very early.
During the Governing Council meeting, IPL chairman Brijesh Patel acknowledged the Tata Group’s involvement: “Vivo has exited and the Tatas will be title sponsors,” the IPL chairman said.
Patel also revealed that the Governing Council has authorized the Letter of Intent to be handed to CVC Capital, whose takeover of the Ahmedabad franchise has been delayed over several months. “The GC has approved the CVC acquisition of the Ahmedabad team and we will issue the LoI today (January 11),” Patel further said.
Tata, a company that has been in the running for the IPL’s title sponsor, is likely to make its debut with the 15th season of the tournament. The financial results and the specific term of the arrangement are still unknown.