So IPL fans will slowly and steadily will get used to calling the marquee event as “Tata IPL” instead of “Vivo IPL” when the new season resumes in 2022 after the former becomes the title sponsor for the upcoming season. Vivo whose contract was about to terminate in 2023 has parted ways with Indian cricket board mutually and if reports are to be believed, Tata being new sponsor will massively add Rs 130 crore profit to BCCI.
— Vijay Kalantri (@kalantri_vijay) January 12, 2022
Tata are expected to provide Rs 335 crore per season, and VIVO whose contract was till 2023 will be paying Rs 450 Cr per season for 2 years which also include the assignment fee. All this transaction will boost BCCI’s profit for two seasons which will be around 1124 crore.
As per the media reports quoted on different outlets, Tata wanted partnership with BCCI for five years but as of now the deal is finalized till 2023 and BCCI will be inviting fresh tenders for 2024-28 cycle where Tata would certainly get an opportunity to match the bidding rights amount and if they managed to match that they will be able to retain the rights.
“This is indeed a momentous occasion for the BCCI IPL as the Tata Group is the epitome of global Indian enterprise with an over 100-year-old legacy and operations in more than 100 countries across six continents. The BCCI, like the Tata Group, is keen to promote the spirit of cricket across international borders, and the growing popularity of the IPL as a global sporting franchise bears testimony to the BCCI’s efforts. We are truly happy that India’s largest and most trusted business groups have believed in the IPL growth story.
“And, together with the Tata Group, we will look to take Indian cricket and the IPL forward to greater heights,” BCCI secretary Jay Shah said in a statement as quoted by TOI.