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The Tata Group has solidified its association with the Indian Premier League (IPL) by extending its title sponsorship for five years, from 2024 to 2028. The mammoth deal, valued at INR 2500 crore (approximately US$301 million), marks the 'highest-ever sponsorship amount in the history of the league,' according to a statement from the Board of Control for Cricket in India (BCCI).
The Tata Group previously held the IPL title sponsorship for the 2022 and 2023 seasons and is also the sponsor of the Women's Premier League (WPL).
IPL Chairman Arun Singh Dhumal expressed enthusiasm about the extended collaboration, stating, "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."
Dhumal added, "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 took over the IPL title sponsorship from Vivo for the 2022 and 2023 seasons. This change occurred as the BCCI, in response to political tensions between India and China in June 2020, temporarily severed ties with Vivo, a Chinese mobile and technology company.
Vivo had originally secured the title sponsorship for the period 2018 to 2022 for INR 2199 crores (US$341 million approx. at the time).
However, Tata's winning bid for the next five years represents a significant 13.7% increase over Vivo's financial commitment for 2018-22.
BCCI Secretary Jay Shah emphasised the significance of this collaboration, stating, "This collaboration embodies the spirit of growth, innovation, and mutual dedication to excellence."
He continued, "The unprecedented financial commitment reflects the immense scale and global impact of the IPL on the international sports stage."
The 2024 IPL is scheduled to commence on March 22 and will run until the end of May, just before the men's T20 World Cup kicks off on June 1.