Report: VIVO to transfer IPL 2022 title Rights to TATA
It is learnt that the Chinese handset company had requested The Governing Council of the IPL on Tuesday
It is learnt that the Chinese handset company had requested The Governing Council of the IPL on Tuesday (January 11) to transfer the title rights of the IPL to TATA and The Governing Council, in a meeting that concluded minutes ago has approved the request, according to a report in Cricbuzz.
A couple of BCCI officials who were part of the meeting has confirmed the recent development and it is learnt that it will come into effect from this year's IPL.
"There was a request from Vivo to exit the IPL sponsorship deal and the GC has approved it," one official told Cricbuzz. "The BCCI will continue to earn the same fee for the title rights."
The title rights of the IPL was bagged by Vivo in the year 2018 at a cost of Rs. 440 Crore. The deal was paused by the Chinese smartphone makers company last year in the wake of Indo-China diplomatic standoff and the rights were transferred to Dream 11 in 2020 for a year.
The TATA Group will remain the title sponsors of the cash-rich domestic league for the 2022 and 2023 season. The original deal was till 2020 but it has now got extended till 2023 due to the one-year break in between.