News
The five-year extension, from 2024 to 2028, cost Tata INR 2500 crore (US$301 million approx.)
Tata will hold the IPL title rights until 2028 • BCCI
The Tata Group has extended its title sponsorship of the IPL for another five years, from 2024 to 2028, for INR 2500 crore (US$301 million approx.), making it the “highest-ever sponsorship amount in the history of the league,” a BCCI statement said. The group were the IPL title sponsors in 2022 and 2023, and are also the title sponsors of the Women’s Premier League (WPL).
“The collaboration with TATA Group for the title sponsorship of IPL 2024-28 is a significant milestone in IPL’s journey,” IPL chairman Arun Singh Dhumal said. “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 Tata Group had replaced Vivo as IPL title sponsors for the last two seasons. The BCCI had temporarily severed ties with Vivo, a Chinese mobile and technology company, following political tensions between India and China in June 2020. Vivo had originally bagged the title sponsorship for 2018 to 2022 for INR 2199 crores (US $341 million approx. at the time), but for the 2020 season, it was replaced by Dream 11, before Vivo returned for the 2021 season.
Tata’s bid for the next five years is a 13.7% jump over what Vivo had paid for 2018-22.
“This collaboration embodies the spirit of growth, innovation, and a mutual dedication to excellence,” BCCI secretary Jay Shah said. “The unprecedented financial commitment reflects the immense scale and global impact of the IPL on the international sports stage.”
The 2024 IPL will be played from March 22 and run till the end of May, just before the men’s T20 World Cup kicks off on June 1.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : ESPNCricInfo – https://www.espncricinfo.com/ci/content/story/1417400.html?ex_cid=OTC-RSS