The Indian Premier League finds a new title sponsor in India’s largest multinational conglomerate TATA Group. The Chinese technology Company VIVO had previously been the title sponsor of the marquee league for 5 years in the past.
Due to the deterioration of political relations between India and China, there has been a demand to transfer the sponsorship rights for the last few seasons. In 2020, the BCCI and VIVO under pressure did not extend their deal, giving the rights to Indian fantasy-sports platform Dream 11. However, VIVO was back as the title sponsor for 2021 and faced tremendous backlash for different sectors.
“Yes, Tata group is coming in as IPL title sponsor,”IPL chairman Brijesh Patel publicly confrimed the deal
Henceforth, in the latest advancement, the title sponsorship rights of IPL were bagged by the TATA group. The sponsorship fee amount is yet to be disclosed.
BCCI secretary welcomed the TATAs in his recent press release,
“This is indeed a momentous occasion for the BCCI IPL as the Tata Group is the epitome of global Indian enterprise with an over 100 year old legacy and operations in more than 100 countries across six continents
The BCCI like the TATA Group is keen to promote the spirit of cricket across international borders, and the growing popularity of the IPL as a global sporting franchise bears testimony to the BCCI’s efforts,
We are truly happy that India’s largest and most trusted business group has believed in the IPL growth story and together with the Tata Group, we will look to take Indian cricket and the IPL forward to greater heights,” he stated.
IPL: The past and the future
The IPL is definitely a sports league of high stakes all across the globe. The broadcasting fee per IPL match has already surpassed the fee to telecast an NBA or MLS fixture. If one looks back at the history of the tournaments, companies like PepsiCo and DLF have been associated with it as the title sponsors.VIVO had struck a deal of Rs 2200 crore for the title sponsorship rights for the span of 2018-22.
“This was supposed to happen sooner or later as Vivo’s presence was bringing bad publicity for both the league as well as the company. With negative sentiment around Chinese products, the company had to pull out of the sponsorship with one season left for the deal to be completed,”
The financial breakup of the IPL earnings is simple – 50 percent goes to the BBCI, the rest is distributed amongst the franchise.
Since the IPL is now a 10 team league, the value of rights will now skyrocket.
“The Tata group wants to be title sponsors for five years but there needs to be a bidding process in place. But the BCCI is mulling on having a Right to Match option for the Tatas in case they are interested in the next cycle,” sources report.
Reports suggest that the TATA group is interested in a 5-year deal. But since fresh tenders are expected to come in 2024, it will be quite exciting to see how the deal goes in the future.
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