Tata will spend ₹500 crore every year on IPL
Tata Group has retained the title sponsorship of the Indian Premier League from 2024 to 2028. The company will pay ₹2,500 crore for five years, which comes to around ₹500 crore every year.
Tata used a special rule to keep the IPL deal
Aditya Birla Group had also offered ₹500 crore per year for the sponsorship. However, Tata had a “right-to-match” clause. This allowed Tata to match the highest bid and continue as the IPL title sponsor.
IPL has become one of the biggest sports brands in the world
The IPL is watched by millions of people every year in India and many other countries. Because of such huge popularity, companies are ready to spend massive amounts just to have their name attached to the tournament.
Tata wants strong brand visibility
By sponsoring IPL, Tata’s name appears in every match, advertisement, TV broadcast and social media campaign. This gives the company huge visibility and helps it promote all of its businesses.
This is the biggest sponsorship deal in IPL history
Tata’s new deal of ₹2,500 crore is the highest title sponsorship amount ever paid in IPL history. Earlier sponsors paid much lower amounts, but IPL’s value has increased rapidly over the years.
IPL’s business value is growing every year
The IPL already earns thousands of crores from TV rights, digital streaming and sponsorships. Experts believe the tournament will become even bigger in the next few years, which is why companies are investing so much money in it.