Tata replaces Vivo as IPL title sponsor; GC approves entry of new teams
Updated On: 12 January, 2022 07:37 AM IST | New Delhi | PTI
The BCCI, with the help of its legal team, took its time to probe the issue before deciding to approve the CVC bid. “The bids were approved by the GC today, LOI will be issued soon,” IPL chairman Brijesh Patel said
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Royal Challengers Bangalore`s team players. Picture/ PTI
One of India’s largest business conglomerates, the Tata Group, will replace Chinese mobile manufacturer Vivo as the Indian Premier League’s title sponsor for the next two years.
As per sources, the Tatas will be paying around R670 crore for two years of title sponsorship while Vivo will pay a total of Rs 454 crore for termination of contract which makes it a win-win situation for the BCCI as it is set to earn a whopping R1124 crore for seasons 2022 and 2023 respectively.
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