The Board of Control for Cricket in India (BCCI), on January 11, in its IPL Governing Council meeting, has revealed that VIVO has pulled out as the title sponsors of the Indian Premier League (IPL) and India’s own TATA group will be replacing them.

Following the Governing Council meeting, IPL chairman Brijesh Patel confirmed about the Tata Group coming on board as title sponsors. "Vivo has exited and the Tatas will be title sponsors,” Brijesh Patel confirmed the development to ANI.   

Vivo still has two years left in its sponsorship deal with the league and as a result, during this period, Tata will remain the main sponsor. The league will now be called Tata IPL.

Vivo had bagged the title rights at a cost of INR 440 crore a year in 2018. However, the Chinese smartphone makers had paused the deal for a year in 2020 in the backdrop of the Indo-China diplomatic standoff when the rights were transferred to Dream 11.

IPL 2022: BCCI planning to host entire IPL in Maharashtra amid COVID threat, says report

The original five-year deal was up to the 2020 season and it got extended till 2023 because of the one-year break. Following Tuesday's GC decision, the Tata Group will step in and remain the title sponsor for the 2022 and 2023 seasons.

Apart from this, the 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).

With this, the BCCI also gave the two new teams a time frame to sign players before the IPL 2022 mega auction.

(ANI/Cricbuzz inputs)