shot-button
Maharashtra Elections 2024 Maharashtra Elections 2024
Home > Sports News > Cricket News > Article > Tata replaces Vivo as IPL title sponsor GC approves entry of new teams

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

Tata replaces Vivo as IPL title sponsor; GC approves entry of new teams

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.


Meanwhile, the IPL Governing Council on Tuesday decided to issue the Letter of Intent to new IPL franchises Lucknow and Ahmedabad, formalising their entry into the world’s biggest T20 league.


RPSG Group and private investment firm CVC had successfully bid for the Lucknow and Ahmedabad franchise, respectively, last October. However, the LOI got delayed after it emerged that CVC had links with betting companies outside India.

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.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Register for FREE
to continue reading !

This is not a paywall.
However, your registration helps us understand your preferences better and enables us to provide insightful and credible journalism for all our readers.

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK