Tata Group has secured the title sponsorship rights for the Indian Premier League (IPL) for the next five years which is scheduled to commence in 2024. The conglomerate is slated to pay INR 500 crore for each season until 2028, after matching the highest bid made by the Aditya Birla Group. According to reports, the Invitation to Tender (ITT) was granted to Tata, which previously held the title sponsorship for a couple of years.
The Aditya Birla Group submitted a bid of INR 2500 crore, but Tata Group matched this offer. Tata initially entered into IPL sponsorship in 2022 as part of a co-deal with Vivo, a Chinese smartphone manufacturer. However, Vivo withdrew from the five-year deal due to escalating tensions between India and China. After Vivo’s withdrawal on a sub-licensing basis, Tata paid INR 365 crore each year, while the remaining amount of the total INR 512 crore went to the Chinese brand.
Vivo initially signed a five-year deal in 2018 worth INR 2199 crore, which was extended to six years due to the COVID-19 pandemic. After the conclusion of the co-licensing deal between Tata and Vivo, the Board of Control for Cricket in India (BCCI) invited corporate entities to bid for the title sponsorship rights. As Tata matched the offer made by the Aditya Birla Group, the BCCI decided to award the sponsorship deal to Tata.
To ensure a sufficient gap before the T20 World Cup 2024, the Board of Control for Cricket in India (BCCI) is considering starting the 17th edition of the Indian Premier League (IPL) in the last week of March. However, the final schedule will be announced once the dates for the general elections in the country are confirmed.
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