Tata Group is the title sponsor of IPL till 2028. The industry group has signed an agreement to pay BCCI Rs 500 crore every year. In return for this huge price, Tata Group was able to retain the title sponsor rights of IPL. BCCI is getting 2,500 crore as title sponsor of IPL in 5 years. Never before has BCCI received so much money from the title sponsor of IPL. This is a new record.
The BCCI on Saturday awarded the title sponsorship rights of the Indian Premier League to the Tata Group for a period of five years, the board said in a press release. Tata Group, the Indian industrial conglomerate with a presence in multiple industries, has renewed its tie-up with BCCI at a record-breaking price of Rs 2500 crore.'
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Why was Chinese mobile company Vivo removed from IPL sponsorship?
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| Source image - Google |
In 2022, Chinese mobile phone company Vivo was removed from the IPL due to deteriorating Chinese military and political relations. At that time IPL became the title sponsor. Now it was heard that Saudi Arabia may invest in IPL. But in the end, the title sponsor rights of the IPL remained in the hands of the Tata Group.
Tata got this deal from Vivo in 2022. Dream11 also got the title sponsor rights of IPL for one season. The first name was Pepsi IPL in 2008. But now the Tata IPL may be heard for the next five years. Earlier in 2018, Vivo took over the title sponsor rights of IPL for five years. 2199 crore deal was done.
But in the middle of the year this deal was canceled due to Corona. In 2022, as the dispute between India and China escalated, the Tata Group decided to pay Vivo's cover amount and season of 365 crore. After that, Tata got the title sponsor of IPL. Tata tentatively gets the title sponsorship for 2022 and 2023. The Tata Group is also the title sponsor of the Women's Premier League.
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Aditya Birla Group was beaten by Tata Group
Aditya Birla Group was with Tata Group in the race to become the title sponsor of IPL for the next 5 years. But in the end Tata Group remained as the title sponsor of IPL. BCCI is making huge financial gains. That is why the Tata Group was retained as the title sponsor. BCCI has not allowed any Chinese company to join the race to become the title sponsor of IPL. Hard conditions are given. This makes it easy for the Tata Group to remain the title sponsor of the IPL.
Huge financial gain of BCCI
A statement from the BCCI said, 'The Tata Group has been awarded the title sponsorship rights of the Indian Premier League for 5 years on Saturday. Tata Group has managed to retain the title sponsorship rights of IPL for Rs 2,500, breaking the company's previous record. This time in the history of IPL, so much money is available for the title sponsor.'
What did Board Secretary Jay Shah say about this matter?
Board Secretary Jay Shah said, 'We are delighted to announce our partnership with the TATA Group as the title sponsor of the IPL. Crossing borders, the league has enthralled audiences worldwide with an unparalleled combination of skill, excitement and entertainment. This unprecedented financial commitment reflects the immense stature and global impact of the IPL on the international sporting stage.'
Board Treasurer and IPL Chairman Arun Dhumal said the Rs 2,500 crore deal will further enhance IPL's unique image in world sports.
"This unprecedented financial deal not only sets a new benchmark in the league's history, but reaffirms its position as a sporting event with global impact." Arun Dhumal said.
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