The Board of Control for Cricket in India (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 TATA Group previously held the title sponsorship rights for the IPL in 2022 and 2023, paying Rs 670 crore for the two-year rights and is also the title sponsor of the Women’s Premier League, the biggest women’s T20 league in the world.
The Tata group had replaced Vivo in 2022 as the title sponsor as the Chinese mobile phone maker did not want to continue with the sponsorship anymore.
DLF, Pepsi, Vivo, and Dream11 have previously held these rights, with the annual value increasing from Rs 40 crore, paid by DLF for 2008–12, to Rs 440 crore per year, as offered by Vivo for 2018–19.
Vivo had then agreed to pay ₹440 crore annually for the sponsorship when it bagged the rights in 2017. A total of ₹2,199 crore for five seasons beginning 2018 had been agreed upon.
Originally, the IPL sponsorship deal with Vivo was set to expire in 2022.
However, in 2020, Dream11 stepped in as a temporary replacement for one season. This meant the Vivo contract was extended until 2023, but with conditions.
While Tata took over the remaining sponsorship rights and paid the corresponding fee, there was an additional 6% contingency amount attached to the original Vivo deal.
Since Vivo ultimately did not fulfill the complete five-year term, this specific 6% sum will be paid directly to the BCCI by Vivo itself.
As per the new bid process put out by the BCCI, the incumbent company had the first right to match the offer.
Jay Shah, Honorary Secretary of BCCI, 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.”
Arun Singh Dhumal, Chairperson of IPL, said, “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.”
According to the tender released on December 12, the BCCI set the base price for the five-year rights at Rs 1750 crore, translating to Rs 350 crore per year for 74 matches.
IPL has attained decacorn status, witnessing a remarkable 28% surge in its combined brand value to reach $10.7 billion, as reported by Brand Finance. Furthermore, the overall brand value of the IPL system has experienced an impressive 433% increase since its inception in 2008.
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.
