The title sponsor of the Indian Premier League (IPL) from 2018, Vivo has pulled out of the sponsorship contract. VIVO had a five-year contract till 2022 for Rs 2,199 crore since 2018, which means Vivo was paying Rs 440 crore for each edition.
However, just for the IPL 2020 edition, the title sponsor was Dream11, as Vivo had to stand back due to the India-China border controversy. Dream11 won the rights for Rs 222 crore, which was almost half of Rs 440 crore, which Vivo was paying annually for a five-year deal.
But now, Vivo has pulled out of the contract in their last year of the five-year deal. So from the IPL 2022 edition, TATA will replace Vivo as the title sponsor, according to the information gained from the IPL Governing Council meeting.
IPL to be called TATA IPL from the upcoming 2022 edition
In this upcoming 2022 edition of the tournament, it will be called TATA IPL. Vivo has transferred the IPL title sponsor rights to TATA and BCCI will earn the same amount of Rs 440 Crore from TATA for the 2022 edition.
“VIVO requested us for the transfer of rights and the Governing Council has approved it”, IPL Governing Council Chairman Brijesh Patel confirmed the development, according to a report by Insidesport.
