Tata Group will continue to be the title sponsor of the India Premier League (IPL) for the next five years (2024–2028). The conglomerate acquired the deal for a record-breaking amount of Rs. 2,500 crore ($300 million). In addition to 2021, Tata Group served as the title sponsor for 2022 and 2023, for the men’s IPL and the women’s Premier League.
IPL has become the world’s richest T20 tournament, as the acquisition price is the highest in the history of the league, and its brand value is estimated to be $8.4 billion.
The IPL chairman, Arun Singh Dhumal, said, “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.”
Meanwhile, BCCI secretary Jay Shah said in a statement that the unprecedented amount represents a new benchmark in the history of the league. Furthermore, it will reaffirm India’s IPL status as a leading international sporting event.
Other league boards find it challenging to compete with the lucrative multi-league contracts offered by the Indian IPL. However, this may exacerbate concerns about the priority of Twenty20 competitions by players over international cricket.