IPL chairman Brijesh Patel confirmed the news to PTI, saying, “Yes, Tata group is coming in as IPL title sponsor.”
The Tata Group, one of India’s major commercial empires, is likely to replace Chinese smartphone maker Vivo as the Indian Premier League’s title sponsor beginning this year, according to the event’s governing council, which met on Tuesday.
“This is truly a monumental event for the BCCI IPL as the Tata Group is the essence of global Indian enterprise with operations in more than 100 countries across six continents,” BCCI secretary Jay Shah said. The BCCI, like the TATA Group, is committed to spreading the spirit of cricket across international borders, as evidenced by the IPL’s growing appeal as a global sporting franchise. We are ecstatic that India’s largest and most trusted business conglomerate has invested in the IPL’s growth storey, and we look forward to working with the Tata Group to elevate Indian cricket and the IPL to new heights.”
IPL chairman Brijesh Patel confirmed the news to PTI, saying, “Yes, Tata group is coming in as IPL title sponsor.” Vivo had an agreement for title sponsorship rights worth Rs 2200 crore from 2018 to 2022, however after the 2020 Galwan Valley military clash between Indian and Chinese Army forces, the company took a year off, with Dream11 taking its place.
Despite rumours that they were looking to sell the rights to a potential bidder, Vivo returned as IPL title sponsor in 2021, and the BCCI authorised the move
The BCCI maintains half of the sponsorship money and shares the remainder among the IPL franchises, which currently number ten after the addition of two new clubs this year. In 2024, it is expected that new tenders for the next cycle would be invited. “The Tata group wants to be title sponsors for five years, but a bidding process is required.” “However, the BCCI is considering providing the Tatas with a Right to Match option if they are interested in the next cycle,” a source said.