The India Premier League (IPL) is gearing up for its upcoming season, IPL 2022. After Vivo stepped down as the official title sponsor of the Indian Premier League, the Board of Control for Cricket in India (BCCI) signed a new contract with Tata (IPL).
According to the agreement, the Tata group will pay INR 670 crores for the next two IPL seasons, while Vivo will pay INR 454 crores to end the two-year contract.
Previously, Vivo signed a contract with the IPL in 2018 to pay INR 2200 crores for the league's title sponsorship from 2018 to 2022. However, because of political problems between India and China, the agreement was halted in 2020. As a result, Dream11 took over for Vivo for a season.
Tatas will pay INR 335 crores per year under the new agreement. The payment consists of INR 301 crores for the rights cost and the remaining 34 crores for the additional fee owing to the increase in the number of games as a result of the addition of two more IPL teams.