Tata Group to continue as IPL title sponsor until 2028, renews contract for record-breaking Rs 2500 crore

The Tata Group has successfully retained the title rights for the Indian Premier League (IPL), by extending the deal until 2028. The BCCI said Tata Group renewed its association with the league for a record-breaking sum of Rs 2500 crore.

Tata Group renews IPL title rights contract for record-breaking Rs 2500 crore (AFP Photo)

Tata Group secured the Indian Premier League (IPL) title rights for the next five years (2024-28), renewing their association with the cash-rich league for a record-breaking sum of Rs 2500 crore. This development comes after Tata Group initially took over the sponsorship from Vivo in 2022, amidst political tensions between India and China.

"The BCCI 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 2500 crore, the highest-ever sponsorship amount in the history of the league," the BCCI said in a statement.

Notably, TATA Group was the title sponsor of the IPL in 2022 and 2023. The Indian conglomerate is also title sponsor of the Women's Premier League.

The Board of Control for Cricket in India (BCCI) had laid out stringent conditions for potential bidders, particularly excluding entities from territories with which India does not share friendly relations, effectively disqualifying Chinese companies like Vivo from the race. Furthermore, companies associated with fantasy gaming, sportswear, cryptocurrency, betting, gambling, and alcohol products were also barred from participating in the bid. Aditya Birla Group emerged as a key contender, submitting a solo bid by the January 12 deadline.

BCCI TOP BRASS REACT TO HISTORIC DEAL

IPL chairman Arun Singh Dhumal said that the record-breaking sponsorship deal only highlights the growing value of IPL.

Notably, in 2022, the IPL was rated as the second most valuable sporting league in the world in terms of the per match value for broadcasting rights. It was only behind the National Football League (NFL) of the USA.

The IPL media rights were sold for a record-breaking sum in 2022. Viacom18 bagged the digital rights for a whopping Rs 23,758 crore, fractionally more than Disney Star's winning bid for TV at Rs 23,575 crore.

"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," he added.

Tata Sons reportedly matched Aditya Birla Group's offer, ensuring their continuation as the IPL's title sponsor until 2028. The BCCI's tender process for the five-year sponsorship deal was expected to attract reputable bidders given the global stature of the IPL, despite the initial response to the sponsorship tender not being overwhelmingly positive.

The IPL, set to return for its 17th season in March 2024, remains one of the most lucrative and high-profile cricket leagues in the world. With Tata Group at the helm as the title sponsor, the league is poised to continue its legacy of combining top-tier cricketing action.