The Tata group has replaced Vivo as the title sponsor of the Indian Premier League (IPL) for upcoming season and the next – the last two years of its contract with the Chinese mobile manufacturer.
As per several reports, Vivo had agreed to pay INR 440 crore annually for the sponsorship when they bagged the rights in 2017 for INR 2,199 crore for five seasons beginning 2018. While the original deal was to end by 2022, it was extended till 2023 as Dream11 replaced Vivo in 2020. So now, when Tata has replaced Vivo, they will pay the remaining amount. However, the six percent additional share will be paid by Vivo to BCCI since they did not complete their five-year term as title sponsors.
In his statement, Jay Shah, the honorary secretary of BCCI, said: “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.”
Tata Sons too confirmed the development but did not disclose further details.
“The move is expected to be a good platform to showcase Tata group’s multiple consumer brands, including the proposed launch of its app, Tata Neu,” a Tata group official told ET.
In the meantime, model-turned-actor Arjun Rampal has shared his happiness over Tata replacing Vivo as IPL title sponsor. Taking to Twitter, Rampal wrote: “And that’s a Six!!! What a way to replace logo of Sponsor of IPL.”
And that’s a Six!!!
— arjun rampal (@rampalarjun) January 14, 2022
From the 2022 IPL season, two new franchises – Ahmedabad and Lucknow – have been added by BCCI, leading to more fun and entertainment in T20 cricket.
#Arjun #Rampal #reacts #Tata #replaces #Vivo #IPL #title #sponsor