The 2024 edition of the TATA Indian Premier League is estimated to generate $99.31 million (Rs 827.4 crore) from sponsorship deals, according to data and analytics company GlobalData.
The IPL’s top sponsorship is the tournament’s five-year title rights deal with TATA Group, worth an estimated $60.15 million (Rs 500cr) annually. The deal is almost four times higher than the next highest deal.
Per GlobalData’s latest report, “The Business of Indian Premier League 2024,” My11Circle and Angel One are new sponsors of the IPL for the 2024 edition of the tournament.
Olivia Snooks, sport analyst at GlobalData, comments: “The value of the tournament title sponsor’s deal reflects the huge popularity of the tournament. My11Circle and Angel One are both fantasy gaming apps, which have been heavily debated due to their legality. However, due to the interest in the tournament across India, the apps have become household names for IPL cricket fans.”
Mumbai Indians has the largest sponsorship portfolio in terms of both volume and total annual sponsorship value, with 37 deals worth an estimated $22.96m. The team’s top annual value deal is with Slice, which serves as their front-of-shirt sponsor for 2024, and is worth an estimated $4m. Royal Challengers Bengaluru has the second highest sponsorship deal value, followed by Kolkata Knight Riders.
Snooks continues: “Mumbai Indians is the joint most successful team in IPL history, alongside Chennai Super Kings. With the current Indian cricket team captain, Rohit Sharma, playing for Mumbai Indians, it is not surprising that they are generating the greatest appeal for brands to invest in sponsoring the team. Royal Challengers Bengaluru, despite never winning the IPL, is boosted in sponsorship revenue by the likes of Virat Kohli, who is one of the most popular Indian cricketers ever.”
