The Tata Group is one of the most influential businesses in the world. Not only in business, but the Tata Group also has a strong influence over the IPL. What is more exciting about the 2022 and 2023 IPL is that Tata Groups have taken the crown away from Vivo, which is also the greatest victory for TATA, as we all know how die-hard a fan India is of cricket.
BCCI (the board for cricket control in India) has declared TATA Group as the Indian Premier League’s title sponsor and replaced Vivo, the Chinese manufacturer of phones. It is concerning news that Vivo has acquired title rights to the IPL from 2018 to 2022 for a fee of 2200 crore from the IPL. But it took a break of one year due to the face-off between Chinese and Indian soldiers at Galwan Valley.
But after things cooled down, Vivo was backed as the title sponsor for the year 2021, with expectations of continuing the partnership. However, it was replaced by TATa Groups for the 2023 IPL. Now, TATA Groups have the leadership of IPL 2023.
This firing news was confirmed by Birjesh Patel, IPL Chairman, by saying, “Vivo has exited and the Tatas will be title sponsors.” Not only this, but he has also informed me that the letter of intent, or LOI, has also been issued. The council has approved the CVC’s selection of the Ahmedabad team.
The most interesting fact is that even though VIVO has backed out, it still has to pay Rs 454 crore according to the 5-year contract. On the other hand, the Tata Group only paid Rs 335 crore for a single season. To know more stay tuned with us on our channel!
Reference – rajkotupdates.news : tata-group-takes-the-rights-for-the-2022-and-2023-ipl-seasons