Teji Mandi Explains: IPL welcomes Tatas, bids goodbye to Vivo!

Teji MandiUpdated: Wednesday, January 19, 2022, 04:31 PM IST
article-image
Teji Mandi Explains: IPL welcomes Tatas, bids goodbye to Vivo! | Pic: Twitter

The Tata Group has replaced the Chinese smartphone maker Vivo as the title sponsor of the IPL (Indian Premier League) for 2022 and 2023, confirmed the BCCI. Here are the details of the event!

Some Background

In 2020, Vivo and BCCI had mutually agreed to pause the Rs 2,190 crore deal signed by the former for the 2018-2022 cycle for the IPL. This decision was agreed upon due to the negative publicity that both the parties received after India-China’s military clash in the Galwan valley in June 2020.

Vivo was ready to transfer the IPL title sponsorship amid the opposition against Chinese brands following the border tensions if it found a buyer at a reasonable price.

The Entry of the Tatas

For the sponsorship, the Tata Group will likely pay Rs 300 crore per year, about 60% of what Vivo would have paid as the title sponsor for the next two seasons. As per the terms of the contract, Vivo will have to pay the remaining amount.

“This is indeed a momentous occasion for the BCCI as the Tata Group is the epitome of global Indian enterprise with operations in more than 100 countries across six continents,” said the BCCI secretary.

What’s In-Store for the Tatas?

Considering the growing popularity of the league as a global sporting franchise, IPL will help the Indian conglomerate create a platform to showcase its multiple consumer brands. It may also experiment with the proposed launch of its super app - ‘Tata Neu’. This deal will allow the conglomerate to take on its arch-rivals Amazon and Reliance.

How Will It Impact Investors?

Investors and consumers can expect to see the unveiling of the ‘Tata Neu’ app. The app will consolidate Tata’s entire consumer-facing businesses, from the online grocery (Big basket), online pharmacy (1mg), e-commerce (TataCliq), consumer electronics (Croma), fashion (Westside), and more.

Investors in the Tata Group of companies can benefit from their increased brand awareness and visibility, and consumers will be able to get a wider variety to choose from.

The Way Forward

Considering the popularity of the game, it’s a win-win deal for the Tata Group at such a price! With 400 billion total viewing minutes for the IPL 2020, the league has attained considerable success in increasing brand recall for sponsors.

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Union minister Narayan Rane undergoes angioplasty in city hospital

Union minister Narayan Rane undergoes angioplasty in city hospital

Palghar: Mephedrone worth Rs 11.50 lakh seized from Nalasopara, two Nigerians held

Palghar: Mephedrone worth Rs 11.50 lakh seized from Nalasopara, two Nigerians held

Shah Rukh Khan’s 'Mannat' nameplate worth Rs 25 lakhs goes missing: Report

Shah Rukh Khan’s 'Mannat' nameplate worth Rs 25 lakhs goes missing: Report

Texas shooting: Police waited over an hour to breach classroom

Texas shooting: Police waited over an hour to breach classroom

Mumbai: Latest Updates - Sunny side up for Mannat following clean chit to Aryan Khan

Mumbai: Latest Updates -  Sunny side up for Mannat following clean chit to Aryan Khan