Tata Group inks IPL title sponsorship deal until 2028 in landmark Rs 2500 crores agreement

There has been a significant development in the Indian Premier League (IPL)as Tata Group has secured the title rights next five years from 2024 to 2028. Tata Group has paid an amount of INR 2,500 (US $300 million) to get this deal this shows their dedication to the Indian Premier League (IPL). The Indian Cricket Board has approved this decision on Friday. This marks a strategic move for Tata in the cricketing world.

In 2022 IPL became the most valuable sporting league across the world in terms of broadcasting rights per match. National Football League (NFL) of USA is only ahead of IPL. In 2022 IPL media rights were sold for a record-breaking amount. Viacom 18 grabbed digital rights for Rs. 23758 crores.

Tata Group now has been both Men’s IPL and Women’s Premier League (WPL) title sponsor Since 2008 IPL has attracted Indian celebrities, politicians, businessmen etc. IPL has now become the world’s richest T20 tournament with a brand value of $8.4 billion approx.

Political nervous tension between India and China led Vivo to back out

Vivo had to opt to withdraw from the partnership due to Chinese connections. Vivo had secured the rights in the 2018 season and planned for the next five. Due to political concerns Vivo had to stop its collaboration with IPL.

In 2022 Tata Group manage bought title rights for the IPL for INR 365 crores approx., per season. They managed to keep it for 2023 as well. Tata secured IPL title rights succeeding Vivo. Due to the political concern of India and China BCCI wont entertain Chinese companies and brands.

In the IPL journey, Tata is set to provide strong support and contribution to league success. The IPL is anticipated to start in March 2024. With Tata Group as its title sponsor, the league continues its legacy of providing top cricketing matches.