Tata Group will replace smartphone maker Vivo as title sponsor of the Indian Premier League (IPL) for the for the next two years, the cricketing league’s governing council decided in a meeting on Tuesday.
The Tatas will be paying around Rs 670 crore for two years of title sponsorship while Vivo will pay a total of Rs 454 crore for termination of contract which makes it a win-win situation for the BCCI as it is set to earn a whopping Rs. 1,124 crore for seasons 2022 and 2023 respectively, news agency PTI quoted sources as saying.
As the news of Tatas replacing Vivo, the Chinese mobile maker, emerged, Twitter had a field day. Welcoming the Tata Group, fans of IPL said “tata” to Vivo.
“Tata replaces Vivo as IPL sponsors, which is going to be confusing. Every time they say ‘Tata IPL’ it may or mean the tournament is over,” Twitter user Abhishek Mukherjee said.
Tata replaces Vivo as IPL sponsors, which is going to be confusing.
Every time they say “Tata IPL” it may or mean the tournament is over.
— Abhishek Mukherjee (@ovshake42) January 11, 2022
Tata bye bye @Vivo_India IPL #TataIPL #RatanTata #IPLAuction2022 #TataIPL #tatapower #BCCI
— Abishek Sanmotra (@SanmotraAbishek) January 11, 2022
TATABYE BYE VIVO
— zahid mansury (@zahid5286) January 11, 2022
Tata will be the new official sponsor of IPL 2022 ..Bye bye #Vivo #TataIPL pic.twitter.com/So5An5AdrS
— Prasenjit (@Prasenjit051) January 11, 2022
VIVO indeed got a TATA bye-bye from the IPL title sponsorship#IPL2022MegaAuction #TATAIPL2022#IPLAuctionhttps://t.co/K5nZ5KCyuJ
— Chintan devgania (@CDevgania) January 11, 2022
Vivo had a deal worth Rs. 2,200 crore for title sponsorship rights from 2018-2022, but after the Galwan Valley military confrontation between the Indian and Chinese armies in 2020, the brand replaced it with Dream11.
Nevertheless, Vivo returned as title sponsor in 2021, despite speculation that they were seeking to transfer the rights to a suitable bidder, and the BCCI approved the move.
The 2022 edition of IPL will have two new teams from Ahmedabad and Lucknow, bringing the total to 10 for the lucrative T20 tournament that attracts global stars to India.
The auction for 2022 IPL is set to take place in Bengaluru in the second week of February.