The Board of Control for Cricket in India on Saturday awarded the title sponsorship rights for the Indian Premier League to TATA Group for a period of five years.
The Indian conglomerate, with diverse verticals, has renewed its association with the BCCI for a record-breaking value of INR 2,500 crore — the highest-ever sponsorship amount in the history of the league.
The TATA Group previously held the title sponsorship rights for the IPL in 2022 and 2023 and is also the title sponsor of the Women’s Premier League, the biggest women’s T20 league in the world.
BCCI secretary Jay Shah 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.”
IPL chairperson Arun Singh Dhumal noted: “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.”
It bears noting that in the initial round of bidding, the Aditya Birla Group (ABG) had emerged as the sole bidder for the IPL title sponsorship rights. The last date for submitting bids was January 12.
Tata Sons, the incumbent title rights holder, had the option to match any successful proposal. Per the Economic Times, ABG presented an offer slightly above the specified base price.
On December 12, the BCCI issued the tender for title sponsorship rights for the IPL seasons from 2024 to 2028. The specified base price for the five-year period amounted to Rs 1,750 crore, equivalent to Rs 350 crore annually, covering 74 matches.
In addition to the initial offering of 74 matches with a base price of Rs 350 crore per year, BCCI suggested contemplating submissions for 84 to 94 matches, with respective base prices of Rs 375 crore and Rs 400 crore.
A source cited in the report clarified that should BCCI decide to increase the match count, the IPL title rights holder would be obligated to pay the sponsorship fee according to their bid amount for the expanded matches.
