The amount is said to be the ‘highest-ever sponsorship amount in the history of the league’.
The Indian conglomerate Tata Group has extended its title sponsorship for the Indian Premier League (IPL) for another five years (2024 to 2028), according to media reports. The deal, valued at Rs 2,500 crore, is said to be the "highest-ever sponsorship amount in the history of the league".
"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 Rs 2500 crore by TATA Group is a testament to the immense value and appeal that the IPL holds in the world of sports,” IPL chairman Arun Singh Dhumal said.
"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.
There will be 74 matches in IPL 2024, and the BCCI plans to increase the number of games to 84 in 2025 and 94 in 2027.
"The unprecedented financial commitment reflects the immense scale and global impact of the IPL on the international sports stage," BCCI secretary Jay Shah said in a statement.
Aditya Birla Group had also put in a bid of Rs 500 crore per year. The BCCI rules for the IPL title sponsorship bidding process allowed Tata Sons the first right of refusal. It was asked to match the highest bid by 5 pm on Friday.
Tata Group will be paying 13.7% more than Vivo’s bid for 2018-22. The Chinese mobile company had originally signed the deal for 2018 to 2022 for Rs 2,199 crores. Dream11 replaced it for the 2020 season and it returned for the 2021 season. However, the BCCI severed ties with the Chinese mobile company after tensions rose between India and China in 2020. Paying Rs 670 crores, Tata Group replaced Vivo as the IPL title sponsors for 2022 and 2023.
The Tata Group was also the title sponsor of the Women's Premier League (WPL), which started in 2023.