New Delhi, Jan 20 : The Board of Control for Cricket in India (BCCI) announced on Saturday that the TATA Group has retained the title rights of the Indian Premier League (IPL). It added that the TATA Group will now have the title rights for the 2024-28 cycle for a record-breaking value of INR 2500 crore'the highest-ever sponsorship amount in the history of the league. "We are elated to announce the partnership with the TATA Group as the Title Sponsors of the IPL. The league has transcended borders, captivating audiences worldwide with its unmatched blend of skill, excitement, and entertainment. Similarly, the TATA Group, rooted in India, has emerged as a symbol of excellence, making its mark across diverse global sectors.' 'This collaboration embodies the spirit of growth, innovation, and a mutual dedication to excellence. The unprecedented financial commitment reflects the immense scale and global impact of the IPL on the international sports stage,' said Jay Shah, Honorary Secretary of BCCI, in a statement. The TATA Group previously held the title sponsorship rights for the IPL in 2022 and 2023, as Chinese smartphone company Vivo chose to withdraw from the deal. It is also the title sponsor of the Women's Premier League (WPL), which was launched in 2023. The TATA Group paid INR 670 crore collectively for the last two IPL seasons title sponsorship. "The collaboration with TATA Group for the title sponsorship of IPL 2024-28 is a significant milestone in IPL's journey. The record-breaking sum of INR 2500 crore by TATA Group is a testament to the immense value and appeal that the IPL holds in the world of sports.' 'This unprecedented amount not only sets a new benchmark in the history of the league but also reaffirms the IPL's position as a premier sporting event with global impact. TATA Group's commitment to cricket and sports is truly commendable, and we look forward to scaling new heights together and providing fans with unparalleled cricketing entertainment," said Arun Singh Dhumal, Chairperson of IPL. IPL 2024 is likely to be played from the third week of March, with the final schedule to come once the India general election dates are revealed by the Election Commissioner of India (ECI). /IANS