The country’s major conglomerate Tata Group has once again been awarded the title sponsorship rights of the Indian Premier League (IPL) for the next five years, the Cricket Board of India said on Saturday.
The rights were sold to the company for a record sum of $300 million.
Tata already has the title sponsorship of IPL and Women’s Premier League. The first tournament of the Women’s Premier League was held last year.
Board of Control for Cricket in India (BCCI) secretary Jay Shah says, ‘This financial commitment is unparalleled and reflects the vast and global impact of the IPL on the international sporting stage.’
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IPL attracts international cricket stars with huge salaries. 10 teams participate in the most popular T20 format of the game.
The financially lucrative championship is watched by millions of viewers. This tournament gave rise to the T20 franchise model which was later adopted worldwide.
In June last year, the BCCI sold the broadcasting rights of the next five seasons of the IPL to global media companies for $6.2 billion.
IPL Chairman Arun Singh Dhumal said the Tata Group’s IPL title sponsorship for 2024-28 ‘endorses the IPL’s status as a premier sporting event with global impact.’
T20 cricket will be introduced as one of five new sports at the 2028 Olympic Games in Los Angeles.
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2024-08-16 16:06:55