Kathmandu, Jan 20: Tata has secured the title sponsorship rights for the Indian Premier League (IPL) once again, acquiring the 5-year rights for a whopping Rs 2,500 crore. This substantial investment translates to an annual sponsorship fee of Rs 500 crore for the Board of Control for Cricket in India (BCCI).

Having previously held the title rights of the IPL, Tata retained its sponsorship by paying Rs 730 crore in 2022 for rights until 2023. The competitive bidding process saw Aditya Birla Group also bidding Rs 2,500 crore, prompting BCCI to seek confirmation from Tata, the incumbent sponsor. Tata Group reaffirmed its commitment by successfully bidding Rs 2,500 crore.

BCCI had initiated the tender process for selling the IPL title rights a month ago, with interested companies required to purchase a tender document worth Rs 5 lakh from the cricket board. The tender explicitly stated that Chinese companies were ineligible to bid for sponsorship due to ongoing border and political tensions between India and China.

In the 17th season of the IPL, scheduled for this year, Tata’s renewed sponsorship is expected to contribute significantly to the financial success of the tournament. While reports suggest a potential start date of March 22, the official IPL match schedule awaits confirmation, contingent on the announcement of the Lok Sabha election date in India. The previous IPL tournament took place from March 31 to May 28, 2023, with the Chennai Super Kings emerging as the champions by defeating the Gujarat Titans in the final.