IPL 2023: VIVO Pulls Out as Title Sponsor, TATA Replaces
The BCCI granted Vivo’s request for the return of the title sponsorship in 2021, despite speculation that the company was seeking to transfer the rights to another suitable bidder.
IPL title sponsor VIVO pulls out of the tournament: VIVO, the title sponsor of the IPL, dropped out of the tournament and transferred the rights to the TATA Group.
The Indian Government Council (IGC) has agreed to Vivo’s request to transfer the title sponsorship rights to Tata, one of the biggest corporate houses of the country, for a reported sum of Rs 2.190 crore. Vivo had won the title sponsorship rights for five years from 2018 to 2023. In terms of sponsorship deals with the league, the former still has a few years left in its contract. During this time, however, Tata will remain the league’s main sponsor.
An application from the Chinese handset firm for the transfer of the title rights has been approved by the Governing Council. Tata is one of the country’s most important corporations. Tata will continue as the main sponsor of the league during this period as Vivo still has a couple of years left on its sponsorship deal. As of this year, the league is going by the name Tata IPL.
It was confirmed to this website by couple of BCCI officials who attended the GC yesterday that the news was true. “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 receive the same fee for the title rights. The original five-year deal was supposed to run until the 2020 season, but it got extended until 2023 because of the one-year break, and following Tuesday’s GC decision, Tata Group has stepped in and will serve as the title sponsor for the 2023 and 2023 seasons.
IPL 2023 Partners – Full List Updated
|Official Broadcasters||Star Sports|
|Official Digital Streaming Partners||Disney+Hotstar|
|Official Strategic Timeout Partner||CEAT|
- Title sponsorship from TATA – ₹440 crores
- Official sponsors – ₹210 crores
- Umpire sponsors – ₹28 crores
- Official strategic timeout sponsor – ₹30 crores
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