This will happen for the first time in the history of Indian Premier League i.e. IPL, when the Board of Control for Cricket in India (BCCI) will earn more than one thousand crore rupees. If we look at the sponsorship in IPL 2022, then its figure has crossed 1000 crores and this has never happened in the 14-year history of the league so far. In the 15th season of IPL starting today i.e. March 26, BCCI has got sponsor amount of 1000 crores.
This time the BCCI has struck a deal with Tata as the title sponsor, as the company VIVO has gone out of its way. At the same time, two associate sponsors have also been found by the IPL, which shows how huge this league has become. The Governing Council of IPL recently announced a new deal with RuPay and Swiggy Instamart as the central sponsors of IPL. The report states that for the first time ever, the board has filled all nine sponsorship slots for the season.
According to the available information, BCCI has made a deal of Rs 48-50 crore annually with Rupay and Swiggy. The second advantage BCCI is getting from the title sponsorship deal. Though Tata group is paying Rs 335 crore which is less than what Vivo is paying, but still BCCI will earn around 30-40 per cent more. According to sources, the deal has been transferred in such a way that Vivo will bear all the losses.
Sources told InsideSport that BCCI will not only get the contracted amount from Vivo, but will also get paid in proportion to the increase in the number of matches for IPL 2022 and IPL 2023. Vivo had agreed to pay Rs 484 crore for IPL 2022 and Rs 512 crore for IPL 2023 due to the increase in the number of matches during the upcoming two seasons. Vivo was to pay Rs 996 crore to BCCI for the next two seasons. Now the Tata group has made a deal with BCCI for only Rs 670 crore for the same period, while the loss will be borne by Vivo.
Not only this, as per the contractual understanding, Vivo will also pay a ‘transfer fee’ to the BCCI as happened when Oppo transferred its rights to Byju’s. This sub-title sponsorship slot will result in a profit of over Rs 600 crore for the BCCI.