IPL 2022 Title Sponsorship – Tata New IPL Title Sponsor: VIVO has finally exited IPL Title sponsorship. The BCCI has confirmed TATA Group as new title partner. According to available information, the deal with TATA Group is 335 Crores i.e almost 25% less than what VIVO had pledged for title partnership to the Indian board. Instead of being hassled about it BCCI is still laughing all the way to the bank – Check why? Follow IPL 2022 LIVE Updates on InsideSport.IN
IPL 2022: BCCI Secy Jay Shah confirms TATA as new IPL title…
IPL 2022: Tata Group to pay less than VIVO as new deal valued at Rs 335 Cr per season, but BCCI still ‘very happy’, check why?
Tata New IPL Title Sponsor – The reality is that the BCCI instead of losing monies on the DEAL-TRANSFER from VIVO to Tata Group is actually making cool profits around it.
Check the IPL Title Sponsorship Mathematics
- VIVO Deal: 440 Crore Per Season
- TATA Motors offer 335 Crore Per Season
- Deficit Per Season: 105 Crores
- Total Deficit for 2 Seasons 210 Crores
According to the sources, the deal has been transferred in a manner that all deficit will be borne by VIVO.
The sources informed InsideSport that BCCI will not only get the contracted amounts from VIVO but will also get PRO-RATA payments of increase in the number of matches for IPL 2022 & IPL 2023.
VIVO had agreed to pay 484 Cr for IPL 2022 & 512 Crores for IPL 2023 on account of increase in the number of matches during the two forthcoming seasons.
VIVO was suppose to pay 996 Crore to the BCCI over next two seasons. Now with TATA Group pledging just 670 Crores for the same period, the deficit will be borne by VIVO.
Not only this – but as per the contractual understanding, VIVO will also pay ‘TRANSFER FEE’ to the BCCI as was the case when OPPO had transferred their rights to BYJU’s.
This overall means, the leading mobile handset brand will be paying almost 450 Crores to the BCCI over and above TATA GROUP’s payments of 670 Crores.
The board will be richer by 150 Crores by this mathematics & that has brought huge smile on the faces of BCCI officials.
“This is nothing new. OPPO transferred their rights to Byju’s & as per the clause they paid the transfer fee to the baord. So nothing new in it”, said one of the BCCI official involved in the entire transaction.
“This is indeed a momentous occasion for the BCCI IPL as the Tata Group is the epitome of global Indian enterprise with an over 100 year old legacy and operations in more than 100 countries across six continents. The BCCI, like the TATA Group, is keen to promote the spirit of cricket across international borders, and the growing popularity of the IPL as a global sporting franchise bears testimony to the BCCI’s efforts. We are truly happy that India’s largest and most trusted business groups have believed in the IPL growth story and together with the Tata Group, we will look to take Indian cricket and the IPL forward to greater heights,” BCCI secretary Jay Shah said in a statement.
Indian Premier League’s (IPL) two new teams — Sanjiv Goenka’s RPSG Group for the Lucknow franchise and CVC Capital’s Ahmedabad team on Tuesday received the formal clearance from the Board of Control for Cricket in India (BCCI).
The formal clearance was given after a meeting of the Indian Premier League (IPL) Governing Council on Tuesday and both Ahmedabad and Lucknow have also been given a time frame for player signing before the mega auction takes place.
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