Tata Group is the main sponsor of the IPL for the years 2022 and 2023.

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The Tata Group, one of India's leading business empires, will take over as the title sponsor of the Indian Premier League this year, replacing Chinese smartphone firm Vivo, according to the governing council of the event that took place on Tuesday.  IPL chairman Brijesh Patel confirmed the news to PTI and said: "Yes, the Tata Group has joined as the main sponsor of the IPL."

The amount of money involved in the agreement is yet to be disclosed, and a Tata representative confirmed the news with a "yes," but declined to provide any other information.

Vivo had a title sponsorship rights deal worth Rs 2200 crore from 2018 to 2022, however after the Galwan Valley military showdown between the Indian and Chinese armed forces in 2020, the company took a year off and Dream11 took its place in the IPL.

Although speculation that the company was seeking to sell the rights to a potential bidder, Vivo returned as the title sponsor of the IPL in 2021 and the move was authorized by the BCCI.

Vivo's presence was creating negative pressure for both the league and the firm, so it was expected sooner or later. Due to poor public perception of Chinese products, the company had to cancel the sponsorship with only one season remaining.  was forced."  BCCI source said

There will be no loss to BCCI as it will continue to earn an annual sponsorship value of Rs 440 million from new sponsors.

The BCCI keeps 50% of the sponsorship amount and gives the rest to IPL franchises, who have grown to ten this year with two new teams. 

The agreement is only considered for this year, as the BCCI will have to float fresh tenders for the next cycle, which will start in 2023.