IPL 2022 – From IPL to LaLiga: The leading Chinese Smartphone company has amicably exited fromt the title sponsorship of IPL 2022 in favor of TATA Group. But BCCI & IPL’s loss has become LaLiga’s gain. LaLiga has signed with VIVO as sponsor after their exit from IPL – Follow IPL 2022 LIVE Updates with InsideSport.IN
Spanish football’s LaLiga has signed up Chinese brand to its sponsorship portfolio. The deal, covers Spain and Portugal and will run until the end of the 2024-25 season.
It is worth noting that Vivo was previously title sponsor of IPL since 2018 & was scheduled to finish the deal with IPL 2022. But the agreement was curtailed before the forthcoming season, with Indian conglomerate Tata Group acquiring the rights earlier this month.
IPL 2022: IPL loss is LaLiga’s gain, after exit from Indian Premier League VIVO to sponsor Spanish Football league
From IPL to LaLiga: How VIVO exited from IPL? VIVO had signed a 440 Cr per annum deal with IPL. But even at lesser monies from TATA GROUP, VIVO exited the IPL Title Sponsorship.
Tata Group only pledged 335 Crores to BCCI & VIVO paid the difference to the BCCI as its commitmment over and above the exit clause penalties levied by the board.
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.
IPL 2022: IPL loss is LaLiga’s gain, after exit from Indian Premier League VIVO to sponsor Spanish Football league
From IPL to LaLiga: LaLiga has been without a sponsor in the smartphone category in Spain since the end of a deal with LG which began in October 2020.
The move represents the first sponsorship deal for Vivo in Spain. During a press conference announcing the agreement, Diego Xiao, president of Vivo in Spain and Portugal, described Spain as one of the company’s “most important markets”.
Xiao said: “When we started in Spain just over a year ago, a gentleman from Sevilla told me that in Spain you can change your wife, husband, political party, but never your football team. This agreement means so much to us because it’s not just an alliance with LaLiga or football, it’s an alliance with Spain and its values. The more we experience those, the closer we are to the country.”
The company’s presence in the sport also includes sponsorship deals with FIFA and UEFA covering the 2022 men’s World Cup and the men’s Euro 2024, respectively.
VIVO was also a sponsor of the 2018 FIFA World Cup and Euro 2020 tournaments.
Follow IPL 2022 LIVE Updates with InsideSport.IN
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