TATA Secures Record-Breaking Deal With IPL Till 2028, Here Are The Details Of The Whopping Contract
IPL rights TATA
The Tata Group has successfully secured the title rights for the Indian Premier League (IPL) for the next five years, spanning from 2024 to 2028. This renewal marks their continued association with the lucrative league, with the group committing a record-breaking amount of Rs 2500 crore. The move follows Tata Group's assumption of sponsorship from Vivo in 2022, a transition that took place amid political tensions between India and China.
"The BCCI on Saturday awarded the title sponsorship rights for the Indian Premier League to TATA Group for a period of five years. The Indian conglomerate, with diverse verticals, has renewed its association with the BCCI for a record-breaking value of INR 2500 crore, the highest-ever sponsorship amount in the history of the league," the BCCI said in a statement.
The Board of Control for Cricket in India (BCCI) set forth rigorous criteria for potential bidders, explicitly excluding entities from regions with which India has strained relations. This move effectively ruled out Chinese companies, including Vivo, from participating. Additionally, the BCCI prohibited companies associated with fantasy gaming, sportswear, cryptocurrency, betting, gambling, and alcohol products from entering the bidding process. Aditya Birla Group emerged as a significant contender by submitting a solo bid before the January 12 deadline.
IPL's Brand Value
IPL chairman Arun Singh Dhumal emphasized that the unprecedented sponsorship agreement underscores the increasing value of the Indian Premier League (IPL). Notably, in 2022, the IPL was ranked as the second most valuable sporting league globally in terms of per-match value for broadcasting rights, trailing only behind the National Football League (NFL) in the United States.
During the same year, the IPL media rights set a new record with Viacom18 securing digital rights for an impressive Rs 23,758 crore, slightly exceeding Disney Star's successful bid for TV rights at Rs 23,575 crore. These figures reflect the significant financial interest and value associated with the IPL, solidifying its position as one of the most lucrative and popular cricket leagues worldwide.
"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 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," he added.
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