The Tata Group has secured the title sponsorship of the Indian Premier League (IPL) for the period of 2024-2028, with a "record-breaking" deal worth $300 million, announced by the IPL organisers. The IPL, featuring top international cricket players and backed by celebrity franchise owners, has become the world's wealthiest T20 tournament, estimated to have a brand value of $8.4 billion.
This has been a lucrative venture for the Board of Control for Cricket in India (BCCI), as the media rights for the 10-team league from 2023 to 2027 fetched $6.2 billion. Tata Group has also been the title sponsor for the Women's Premier League, which began last year.
“The unprecedented financial commitment reflects the immense scale and global impact of the IPL on the international sports stage,” BCCI secretary Jay Shah said in a statement.
Several IPL franchise owners have expanded their investments by acquiring teams in T20 leagues across various countries, including the United Arab Emirates, South Africa, West Indies, and the United States.