One of India’s largest business groups Tata is all set to take over as the title sponsor of the Indian Premier League(IPL)replacing Chinese mobile manufacturer Vivo for the year 2022.
The decision on the sponsorship change was taken during the IPL Governing meeting on Tuesday and was confirmed in a statement by IPL Chairman, Brijesh Patel.
The two parted ways prematurely though Vivo still has two more years to go before the association ended.
The sponsorship agreement had been signed between the two for a massive amount of Rs 440 crore in 2018.
Vivo had pulled out earlier too, in 2020 on account of rising anti- Chinese sentiments in the country, but had returned in 2021 as chief sponsor.
The agreement was set to end in 2023. It is learnt that Vivo had requested to transfer its existing deal with BCCI to Tata, which was approved during the Governing Council meet.
This makes the Tatas title sponsors for the 2022 and 2023 seasons of the IPL. BCCI secretary Jay Shah called it a momentous occasion as Tata Group was an epitome of global of Global Indian enterprise with a legacy of over 100 years and a presence in more that 100 countries.
The BCCI was as keen as the Tatas to promote the spirit of cricket across borders, he said.