Before Tata, DLF, Pepsi, Vivo and Dream 11 were the main sponsors of the IPL. Tata’s entry has benefited BCCI by so many million rupees.
Bombay: IPL to Tata Group (TATA Group) You have a new sponsor. For two years this year and into the 2023 season, Tata Group will be the title sponsor of the IPL. No longer LIVE, the T20 league competition will be known as Tata IPL. The Tata group has entered the IPL due to the withdrawal of the Chinese mobile manufacturing company VIVO. The governing council of the IPL met yesterday. That was the decision. Tata is the fourth company to become the title sponsor of the IPL. Before Tata, DLF, Pepsi, Vivo and Dream 11 were the main sponsors of the IPL. Tata’s entry has benefited BCCI by Rs 130 crore.
The rights were purchased for Rs 2.2 billion rupees
Vivo had bought the IPL property rights from 2018 to 2022 for Rs 2.2 billion rupees. After the bloody conflict in Valle de Galván in 2020, the pressure on Vivo increased and the sponsorship was suspended in 2020. Dream 11 was the sponsor that year. In 2021 Vivo became a sponsor again. But trade relations between BCCI and Vivo had deteriorated. “It just came to our notice then. Because it started with bad publicity outside of the league and the company. The company withdrew a season before the end of the deal due to negative sentiments about Chinese products,” a BCCI source told PTI.
Vivo will give Rs 450 crore to BCCI
10 teams will play in the 2022 IPL season. BCCI was to get Rs 996 crore from Vivo. Vivo had offered Rs 484 crore and Rs 512 crore for both seasons. Earlier, it was decided to pay Rs 440 million for one season. Tata Rights will pay Rs 335 million rupees for two seasons as fees. Vivo will pay BCCI Rs 450 crore as a way out of the deal. This will get the BCCI Rs 1120 crore.
Will Tata sign a five-year contract?
The Tata Group is considering a five-year title sponsorship deal. To do this, BCCI will have to call for new tenders. According to that, the rights will be granted from 2024 to 2028. For this you have to pay more by bidding more