Vivo is officially withdrawing from its title sponsor position from the IPL (Indian Premiere League). The decision was taken during the Governing Council meeting of the IPL earlier today (11th January 2022).
For those unaware, the Chinese smartphone maker has been the title sponsor for the IPL for more than five years now. However, the Tata Group will now be the next title sponsor for this year as well as 2023 IPL. This news has also been officially confirmed by the BCCI officials (Board of Control for Cricket in India). Apparently, Vivo has requested to pull out from the IPL sponsorship deal, which was approved by the Governing Council.
Although, the brand currently has a couple of years left in its sponsorship deal with IPL. So, Tata will act as the title sponsor during this period. In other words, the popular cricket league will no longer be referred to as Vivo IPL, rather you will have to get used to calling it Tata IPL. According to a 91Mobiles report, an official stated that “There was a request from Vivo to exit the IPL sponsorship deal and the GC has approved it. The BCCI will continue to earn the same fee for the title rights.”
Back in 2018, the Chinese brand had acquired the title rights for a cost of 440 crore INR (roughly 60 million US Dollars). But in 2020, the deal was paused for a year due to the Coronavirus pandemic, which even caused relations between India and China to be strained and the title rights being transferred to Dream 11.
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