Indian conglomerate Tata Group has struck a five-year extension to its title sponsorship deal covering the prestigious Indian Premier League (IPL) Twenty20 cricket competition.
The deal, which was announced by the Board for Control of Cricket in India (BCCI) on Saturday (January 20), comes with a fee of INR2500 crore ($301 million), making it the highest-ever sponsorship sum secured by the 10-team IPL - according to the BCCI.
Tata Group has already acted as the IPL’s title partner for the last two seasons, with its tie-up beginning ahead of the 2022 campaign. It replaced Chinese mobile and smart technology firm Vivo, which had originally entered into an agreement with the BCCI for the 2018-22 cycle before that was brought to an early end amidst Chinese-Indian geopolitical tension.
The 2020 IPL season saw Vivo replaced for a year by Dream11 as the title sponsor before it returned in 2021, a year before being replaced permanently.
This year’s IPL will begin on March 22 and will run until the end of May. The BCCI began their formal search for a 2024-28 IPL title sponsor in mid-December, releasing an invitation to tender.
There were several categories of industry sectors the BCCI prohibited from submitting title sponsorship bids - alcohol products, betting, cryptocurrency, real money gaming, tobacco, and “one likely to offend public morals such as, including but not limited to, pornography.”
The title sponsorship rights fee is - in terms of local currency - a jump of 13.7% from the Vivo rights fee of INR2199 crore.
Arun Singh Dhumal, chair of the IPL, has 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."
Jay Shah, the BCCI’s general secretary, added: “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.”
In addition to this agreement, Tata Group also has a title sponsorship deal covering the Women’s Premier League (WPL), which began last year.
That tie-up for the five-team women’s T20 competition reportedly lasts through 2027, having been unveiled last February.
