Tata Group Secures a 5-year IPL Sponsorship Deal for $300 Million

Tata Group wins the IPL title sponsorship for 2024-28 with a “record-breaking” $300 million, announced league organizers on Saturday. IPL, backed by celebrity franchise owners and top international players, is the world’s wealthiest T20 tournament, boasting an estimated $8.4 billion brand value. It has been a cash cow for the Indian cricket board (BCCI) with the 10-team league’s 2023-27 media rights fetching $6.2 billion.

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BCCI Secretary Acknowledges IPL’s Global Impact

BCCI Secretary Jay Shah, in a statement, emphasized that the substantial financial commitment underscores the IPL’s significant global influence and scale on the international sports platform. Several IPL franchise owners expanded their portfolio by acquiring teams in T20 leagues in the UAE, South Africa, West Indies, and the United States.

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Record-Breaking Sum Reinforces Premier Sporting Event Status with Tata

“Arun Singh Dhumal, the league chairman, sees the record-breaking IPL sum as proof of its global impact and immense value. The unprecedented amount marks a historic milestone, reinforcing the league’s premier status in global sports.”

IPL Title Sponsorship Turbulence: From Vivo’s Exit to Tatas’ Takeover

“The Indian board was displeased with Vivo’s exit before IPL 2020 amid anti-Chinese sentiments. Vivo’s winning bid raised title rights to ₹440 crore annually for 2018-22. BCCI temporarily granted rights to Dream11 at half the price. Vivo returned in 2021, and later, the Tatas took over, paying around ₹670 crore for two years.” The rest of the sponsorship slots are also up for renewal. Last year, the BCCI made a total of ₹1000 crore annually from title and central sponsorships.