The Board of Control for Cricket in India (BCCI) has decided to replace Vivo as the IPL's title sponsor with Tata. This decision was made during the IPL's Governing Council meeting on Tuesday (January 11).
IPL chairman Brijesh Patel confirmed the Tata Group's involvement following the Governing Council meeting, saying, "Vivo has gone, and the Tatas will be title sponsors."
Patel also revealed that the Governing Council has approved the issuance of a Letter of Intent to CVC Capital, whose acquisition of the Ahmedabad franchise has been controversial for some months. "The CVC acquisition of the Ahmedabad team has been approved by the Governing Council, and we will issue the Letter of Intent today (January 11)," he added.
Vivo's sponsorship arrangement with the league has a few years left on it, and Tata will remain the league's principal sponsor at that time. The tournament will henceforth be known as the Tata IPL.
The original five-year contract was set to expire after the 2022 season, but due to the one-year gap, it was extended until 2023. The Tata Group will take over as title sponsor for the 2022 and 2023 seasons as a result of the Governing Council's decision.
The Tata Group was welcomed on board by BCCI secretary Jay Shah. "This is a historic time for the BCCI IPL since the Tata Group is the symbol of global Indian enterprise, with operations in over 100 countries across six continents and a history dating back over 100 years."
"The BCCI, like the TATA Group, is involved in promoting cricket's spirit across international borders, as proven by the IPL's growing popularity as a global sporting franchise. We are delighted that one of India's largest and most renowned businesses has invested in the IPL's big success, and we look forward to working with the Tata Group to push Indian cricket and the IPL to new heights "According to Shah,
The Governing Council, which was called mainly to discuss the letter of intent with CVC Capital, also discussed the super auction dates, which the IPL chairman revealed to this publication will take place in Bangalore on February 12 and 13. The BCCI, on the other hand, is still to decide how much time the two new teams will have to sign players.