The Tata Group has secured the title sponsorship rights for the Indian Premier League (IPL) for five years, from 2024 to 2028, paying a record-breaking amount of Rs 2,500 crore (US$301 million approximately). This is the highest-ever sponsorship value in the history of the league, which has become one of the most popular and lucrative sporting events in the world.
Tata Group’s association with IPL
The Tata Group, one of India’s largest and most diversified conglomerates, has renewed its association with the Board of Control for Cricket in India (BCCI) for the IPL title sponsorship. The group previously held the rights for the IPL in 2022 and 2023, paying Rs 670 crore (US$80 million approximately) for two years. The group is also the title sponsor of the Women’s Premier League, the biggest women’s T20 league in the world.
The BCCI announced the partnership with the Tata Group on Saturday, January 20, 2024, after a bidding process that saw several other companies vying for the coveted rights. The Tata Group emerged as the highest bidder, offering more than double the amount paid by the previous title sponsor, Vivo, which paid Rs 440 crore (US$53 million approximately) per year from 2018 to 2021.
The BCCI officials expressed their elation and gratitude to the Tata Group for their commitment and support to cricket and sports in India. They said that the collaboration embodies the spirit of growth, innovation, and excellence, and reflects the immense value and appeal that the IPL holds in the world of sports. They also said that the unprecedented financial commitment sets a new benchmark in the history of the league and reaffirms the IPL’s position as a premier sporting event with global impact.
The Tata Group officials said that they are proud to be associated with the IPL, which has transcended borders and captivated audiences worldwide with its unmatched blend of skill, excitement, and entertainment. They said that they share a common vision with the BCCI to promote cricket and sports in India and beyond, and to provide fans with unparalleled cricketing entertainment.
The IPL is a professional T20 cricket league that features eight franchises representing different cities in India. The league was founded in 2008 and has grown exponentially over the years, attracting some of the best players and coaches from around the world. The league is also known for its high-octane matches, glamorous events, and massive fan following. The IPL is estimated to have a brand value of US$6.8 billion as of 2020.
The Tata Group is one of India’s oldest and most respected business groups, with interests in various sectors such as steel, automobiles, software, consumer goods, hospitality, aviation, and more. The group is also known for its philanthropic activities and social initiatives. The group has a global presence in over 100 countries and employs over 750,000 people.