Tata Group reportedly matched the bid of Aditya Birla Group for IPL title sponsorship.
The Indian conglomerate renewed its association with the BCCI for a record-breaking value of INR 2500 crore—the highest-ever sponsorship amount in the history of the league. Tata Group matched the bid of Aditya Birla Group of INR 500 Cr per year.
Aditya Birla Group was the only company to bid for the rights this year. Tata Group had the right to match any winning submission, as per deal clauses signed between the Board of Control for Cricket in India and Tata Sons, the Economic Times reported.
Tata held the sponsorship rights for IPL 2022 and 2023 and also holds the title sponsor of the Women’s Premier League, the biggest women’s T20 league in the world.
Mr. Jay Shah, Honorary Secretary of BCCI, said: "We are elated to announce the partnership with the TATA Group as the Title Sponsors of the IPL. The league has transcended borders, captivating audiences worldwide with its unmatched blend of skill, excitement, and entertainment. Similarly, the TATA Group, rooted in India, has emerged as a symbol of excellence, making its mark across diverse global sectors. This collaboration embodies the spirit of growth, innovation, and a mutual dedication to excellence. The unprecedented financial commitment reflects the immense scale and global impact of the IPL on the international sports stage.”
It has been reported that going forward, BCCI has plans to raise the number of matches to 84 in 2025 and 2026 and 94 in 2027 from the current format of 74 matches.
Chairman of IPL, Arun Singh Dhumal said: "The collaboration with TATA Group for the title sponsorship of IPL 2024-28 is a significant milestone in IPL’s journey. The record-breaking sum of INR 2500 crore by TATA Group is a testament to the immense value and appeal that the IPL holds in the world of sports. This unprecedented amount not only sets a new benchmark in the history of the league but also reaffirms the IPL's position as a premier sporting event with global impact. TATA Group’s commitment to cricket and sports is truly commendable, and we look forward to scaling new heights together and providing fans with unparalleled cricketing entertainment."
The upcoming Indian Premier League (IPL 2024) is likely to commence on March 22 and will be played in India despite the Lok Sabha elections taking place between April and May.
(BCCI inputs)