Tata Group will replace Vivo as the title sponsor of the Indian Premier League. The news was confirmed by the chairman of the league, Brijesh Patel.
Vivo's five-year deal was supposed to run till the end of the 2022 edition of the tournament. However, this deal was extended to the end of 2023 because Vivo had opted to pause its sponsorship of the tournament in 2020 as a result of an anti-China sentiment during the border tensions between the two countries.
Vivo's five-year deal was worth Rs 440 crore annually.
According to news reports, Tata Group will sponsor the tournament till the end of 2023.
The group has been associated with the IPL in previous editions through Tata Motors.