Some IPL franchise owners went on to buy teams in the T20 leagues in the UAE, South Africa, West Indies and the United States.
Tata Group has won the title sponsorship rights for the Indian Premier League (IPL) for 2024-28 for a “record” $300 million, tournament organizers announced on Saturday.
Backed by renowned franchise owners and featuring the best players in international cricket, IPL has become the richest T20 league in the world with an estimated brand value of 8.4 billion USD.
It has become a cash cow for the Indian Cricket Board (BCCI), with the 10-team tournament’s media rights for 2023-27 raking in $6.2 billion.
The Tata Group was the main sponsor of the men’s IPL and women’s Premier League, which took place last year. “This unprecedented financial commitment reflects the immense scale and global impact of the IPL on the international sporting landscape,” BCCI secretary Jay Shah said in a statement.
Some IPL franchise owners went on to buy teams in the T20 leagues in the UAE, South Africa, West Indies and the United States.
With IPL franchises offering lucrative multi-tournament contracts that most cricket boards cannot match, the growth of the Indian league could add to concerns about player superiority. T20 tournaments are preferred over international cricket.
“The record amount… is a testament to the immense value and appeal that IPL holds in the world of sports,” federation president Arun Singh Dhumal said.
“This unprecedented sum not only sets a new benchmark in the tournament’s history but also affirms IPL’s status as a premier sporting event with global influence.
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