There will be big changes in 2022 IPL. The title sponsors mobile company VIVO has withdrawn his name from the league sponsorship. The Tata Group of Industries has replaced VIVO as the title sponsor.
Brijesh Patel has also confirmed it by IPL Chairman. During the IPL Governing Council meeting on Tuesday, he said that yes, Tata Group is coming in the form of the IPL Titles sponsor.
The coming season will be the IPL 2022 in the Tata IPL. Brijesh Patel confirmed that VIVO had requested the transfer of rights, which the Government Council had passed. With the transfer of these rights, the BCCI will receive earnings of Rs 440 crore.
Vivo still had two years of sponsorship. After transfer, Tata will sponsor the IPL many times (two years). Vivo had bought title sponsorship of 48 crores per year for the IPL in 2018. Due to the India-China border deadlock, this deal was deferred in the IPL 2020 season.
Vivo bought the IPL Titles Sponsorship Right to Rs 2,190 crore for five years from 2018 to 2022. After two years in India and China, the Vivo was replaced by the IPA title Bosanquet to Dream-11.
After this, in 2021, then the league sponsorship rights went to VIVO. However, the company has now decided to get out of this league.
The VIVO brand has now transferred Tata to IPL rights. Now the IPL will be called Tata IPL. The IPL title was sponsored in 2020 as the Dream-11. He won the right of sponsorship in 222 crores. IPL was played in 2020 in the UAE due to the Corona pandemic.
In the IPL 2022, 10 teams will be seen in the place of eight. Ahmedabad and Lucknow are two new franchisees. The BCCI had launched two new teams for IPL on the 25th of October. In these two teams, Lucknow bought RPSG Ventures Limited for Rs 7090 crore, whereas Ahmedabad had bought CVC Capital for Rs 5625 crore.
Title sponsorship is an essential part of the agreement of the IPL’s revenue sharing with franchises. A portion of 50% of the title sponsorship amount goes to franchisees. It is understood that every franchisee meets Rs 20 crore per year from the title sponsorship.