In a high-stakes battle, Tata Sons has successfully maintained the title sponsorship of the Indian Premier League (IPL) for the 2024-28 season. The struggle for this renowned sponsorship hit new heights when Tata matched the Aditya Birla Group’s (ABG) stunning Rs 500 crore annual proposal. This development comes while the IPL remains at the peak of T20 cricket. We were covering the story while it was unfolding. You can check our blog about it.
However, if you want to know more about how Tata won the game again, continue reading.
Tata Matches ABG’s Game
The title sponsorship game took an unexpected turn when the ABG Group submitted a historic proposal of Rs 500 crores every year, totalling Rs 2500 crores over the following five years. Tata Sons, refusing to back down, rose to the occasion and matched this massive proposal.
It was surprising since there were rumours that TATA might quit being the title sponsor. Instead, they are sponsoring the next big thing in Women’s cricket, WPL.
This major investment demonstrates the great value and attractiveness of being associated with the IPL. Tata Sons has already paid Rs 670 crore for the IPL championship sponsorship in 2022 and 2023.
The next IPL season in 2024 will have 74 matches, with the BCCI expecting to expand to 84 matches in 2025 and 2026, and then to 94 matches in 2027. This shows the increase in popularity of the league, so much so that even the giants like ARAMCO are taking interest.
Tata’s Strategic Advantage
Tata Sons received the first right of refusal under the BCCI’s IPL title sponsorship bidding guidelines. To maintain the rights, Tata had to match the highest price made by the ABG Group, which was Rs 500 crores each year.
The rivalry has played out, leaving Tata with a key decision to match this bid before Friday’s 5 p.m. deadline. The IPL title sponsorship story began on December 12, 2023, when the BCCI issued a tender notification. BCCI also issued some guidelines on who can or cannot apply.
This sparked a series of strategic initiatives by giant corporations looking to win prized sponsorship rights. The date of the tender release signalled the start of an aggressive and widely observed bidding campaign.
Tata has successfully won the title sponsorship again. However, what does it indicate? It is a strategic effort to maintain a strong presence in the cricketing scene. The company’s commitment to partnering with one of the world’s most popular T20 competitions emphasizes the IPL’s status as a worldwide cricketing phenomenon.
As fans anxiously await the IPL 2024, Tata’s continuous engagement with the league guarantees spectacular cricketing moments and unique experiences for aficionados worldwide.