Tate & Lyle Sugars has announced that Lyle's Golden Syrup is to be a broadcast sponsor of Channel 4's The Great British Bake Off, set to return to screens this autumn for the eighth series, alongside Dr Oetker.
ITV's entertainment big beasts The X Factor and Britain's Got Talent struck sponsorship deals earlier this year worth £10m and £6m annually respectively.
Lyle's began advertising on the channel last year by sponsoring weekend mornings, its first television advertising in 25 years.
The Bake Off has never been sponsored by brands before as the BBC does not run adverts on its channels nor accept sponsorship deals because it is funded by the taxpayer through the licence fee.
They are thought to have jointly paid about £4m to sponsor the first series, this year's Christmas specials and the Jo Brand-fronted spin-off Bake Off: an Extra Slice.
Channel 4 originally sought £8 million for sponsorship bids, with experts predicting the deal could beat even the X Factor's record contract.
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The hunt for a sponsor has been one of the biggest-ever charm offensives undertaken by Channel 4 - which included presenters Paul Hollywood and Prue Leith appearing at an event created to woo some of the UK's biggest-spending brands - but it did not cook up an X-Factor-sized deal on its first outing.
The show is returning to screens this autumn for its eighth series - having made a high-profile switch from the BBC to Channel 4.
The Bake Off has attracted a near-cult following and pulled in 14 million viewers for last year's final.
'From a viewer perspective, it is a natural fit and from a TV perspective, it's great to encourage brands like Dr Oetker and Lyle's golden syrup, which haven't been sponsoring shows or running ads for some time, to bring them back to TV'. "Partnering with our friends at Channel 4 we have developed a partnership that will truly be a recipe for success".
"With big-ticket, highly demanded shows, it makes sense to look at dual sponsorship strategies", he said.
'We're looking forward to being inspired by this season's 12 new bakers and hopefully encouraging many more to head to the kitchen to give it a go!'
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