IPL 2022: The Chinese mobile phone manufacturing giant, Vivo has pulled as the title sponsor of the upcoming edition of the Indian Premier League. Tata would be replacing Vivo as the sponsor of the 15th edition of the IPL and now the tournament would be called Tata IPL. The tournament will have a new sponsor for the second time in the last three years.
Before the start of the 2020 edition of the IPL, Vivo had decided not to continue as the title sponsor after BCCI decided not to agree with their requests regarding a discount on the sponsorship fee.
BCCI had received a backlash for getting a Chinese company on board amid the Indo-China clash at the Galwan border. Fantasy sports platform Dream11 was brought in as the title sponsor for that year.
Dream11 paid INR 222 crore to get the sponsorship deal for the 2020 edition. The company tried to continue as the title sponsor for the next edition but BCCI decided to bring back Vivo in the 2021 edition.
Vivo first became the title sponsor in 2016 when it grabbed a deal for two years for INR 100 crores. In 2018, Vivo signed a deal worth INR 440 crores per annum for a period of five years until the 2022 season. The deal was extended for one year because Vivo not being a part of the 2020 edition.
Vivo still had two years left in its contract. Tata will now be the title sponsor for the 2022 and 2023 editions of the IPL. BCCI will be getting the same amount of money from this new deal in the next two years.
The IPL Governing Council and BCCI decided to transfer the sponsorship rights after a meeting on January 11.
IPL 2022: BCCI welcomed two new teams
On January 11, BCCI also formally welcomed the two new teams Ahmedabad and Lucknow to the IPL family.
During the team auction, Sanjiv Goenka’s RPSG Group bought the Lucknow team while CVC Capital purchased the Ahmedabad franchise. The two new teams will have to make several announcements including their names in next coming days.
BCCI ran an investigation over the ownership of the Ahmedabad franchise as it was revealed that CVC had invested in two betting companies and hence, were ineligible to participate in the IPL.
But, the team received clearance from the BCCI and IPL Governing Council on Tuesday and will take part in the 15th edition of the tournament. The two teams have also got the time till 30th January to decide which three players they are like to pick before heading into the IPL 2022 auction next month.
BCCI has also announced the dates for the upcoming auction and it will take place on February 12 and 13 as was reported earlier.