Thiruvananthapuram: Tata has successfully clinched the title sponsorship rights for the prestigious Indian Premier League (IPL) until 2028. The reports suggest that Tata’s bid was better than Aditya Birla Group’s.
On December 12, the Board of Control for Cricket in India (BCCI) began the process of seeking sponsors for the IPL title from 2024 to 2028. They set a starting price of Rs 1,750 crore for a five-year period, allocating Rs 350 crore per year for 74 matches. Tata, a well-known corporate entity, had previously paid around Rs 670 crore for the IPL title sponsorship in the last two years.
In a competitive bidding scenario, Aditya Birla Group initially submitted an ambitious bid of Rs 2,500 crore for five years, equating to Rs 500 crore per year. However, Tata emerged as the winning bidder by presenting a more lucrative offer.
In 2022, Tata obtained the IPL sponsorship rights from Vivo, which had initially secured them in 2018 for a planned five-year period. However, due to various reasons, including concerns about its Chinese connections, Vivo sought to withdraw from the deal. The original contract was for Rs. 2199 crore, extending to six years due to a one-year pause during the pandemic.
Amid diplomatic tensions between Bharat and China, the Tata Group intervened in 2022, committing Rs. 365 crore per season, while Vivo covered the rest. After successfully navigating these challenges, the BCCI granted Tata the right to match any new offers. Consequently, Tata has agreed to match the Aditya Birla Group’s bid of Rs. 2500 crore for a five-year period.
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