The Tata Group will replace Vivo as IPL's title sponsor from the 2022 edition. The decision was taken at the Governing Council meeting of the IPL on 11 January. Following the Governing Council meeting, IPL chair Brijesh Patel confirmed the news to Cricbuzz: ‘Vivo has exited and the Tatas will be title sponsors’.
Patel also stated that Governing Council has approved the Letter of Intent to be issued to CVC Capital, whose acquisition of the Ahmedabad franchise was in doubt over the last two months: ‘The Governing Council has approved the CVC acquisition of the Ahmedabad team and we will issue the LoI today (January 11)’.
However, Vivo still has a year left in their IPL sponsorship deal. They had struck a deal of INR 2,200 crores for title sponsorship rights from 2018 to 2022. However, it had paused the deal for a year in 2020 in the backdrop of the Galwan Valley military face-off between the Indian and Chinese Army soldiers. The rights were transferred to Dream 11.
Vivo were back as IPL title sponsor in 2021, and the original five-year deal got extended till 2023 because of the one-year gap. However, with the latest development, Tata will step in and remain the title sponsor for the next two seasons.
Meanwhile, Patel has also confirmed the 2021 IPL mega auction will be held in Bengaluru, on 12 and 13 February.