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IPL 2024 : IPL title sponsor Ratan Tata’s firm will be around till 2028.

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IPL 2024 : IPL title sponsor Ratan Tata's firm will be around till 2028.

IPL 2024 : Indian Premier League (IPL) will continue to be sponsored by Tata Group as the title sponsor for the next five years, till 2028. The agreement stipulates that ₹500 crore must be contributed every season.As stated in the Invitation to Tender (ITT) document, Tata was entitled to counter any competing offer put out by a different corporate entity.

As a result, the Board of Control for Cricket in India (BCCI) made a decision on Friday, January 19, in which the Tata Group matched the ₹2,500 crore assessment made by the Aditya Birla Group. The fact that Tata purchased the rig is noteworthy.

IPL 2024
Image Source : The Frames

According to an IPL official cited in the Hindustan Times, “Tata decided to exercise the right-to-match as laid down in the tender document.”

For the most recent two IPL seasons (2022 and 2023), Tata Sons spent Rs 670 crores. The BCCI intends to expand the number of games in the league to 84 in 2025, 2026, and 94 in 2027. The IPL 2024 will consist of 74 matches.

Tata Sons had the first right of refusal under the BCCI-mandated regulations for the IPL title sponsorship bidding process, but in order to keep the rights, they had to match the highest bid—Rs 500 cr annually offered by the ABG Group. The Tata Sons were required to match the bid by Friday at 5 p.m., and they succeeded in doing so ahead of schedule.

IPL 2024
Image Source : Business Today

In the past, Pepsi and Vivo were two of the IPL’s brand sponsors. The withdrawal of Chinese smartphone manufacturer Vivo as title sponsor ahead of the 2020 tournament was a bad experience for the Indian Premier League (IPL) as a whole.

When Vivo won the contract for 2018 through 2022, they upped the title rights up to Rs 440 crores annually. Up until that point, the premier cricket organisation BCCI granted us the rights to Dream 11 for a year at a discounted rate.

The Tatas are reportedly paying BCCI 50% more than they did under the previous deal. The BCCI expressed satisfaction that “Tata and Birla put in bids and they could lock a long-term sponsorship deal,” according to a BCCI official cited in the Hindustan Times.

In addition, the other sponsorship agreements are likewise up for renewal. The BCCI earned a total of Rs 1000 crore in central and title sponsorships last year.

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