Tata Sons has retained the Indian Premier League (IPL) title sponsorship rights from 2024 to 2028 after matching Aditya Birla Group's (ABG) bid of Rs 2500 crores, i.e. Rs 500 crore per year. Aditya Birla Group was the only company to bid for the rights this year. Tata Group had the right to match any winning submission, as per deal clauses signed between the Board of Control for Cricket in India and Tata Sons, the Economic Times reported.
BCCI had released the tender for title sponsorship rights for the IPL seasons 2024-2028 on December 12, 2023. where it had set the base price at Rs 1,750 crore over five years, or Rs 350 crore per year, for 74 matches.
An IPL official told ET that Tata decided to exercise the right-to-match as laid down in the tender document.
Tata Sons has been the IPL's title sponsor since 2022 and had paid Rs 670 crore for the two-year rights. Tatas this time are paying the BCCI approximately 50 per cent more from the last contract.
BCCI had also recommended bidders apply for 84 and 94 matches at base prices of Rs 375 crore and Rs 400 crore, respectively.
Before Tatas, Vivo had secured the IPL title rights for Rs 440 crore per year for the 2018-22 period. However, BCCI had to temporarily grant the rights to Dream 11 for one year at a discounted price. Vivo returned for the 2021 season, and subsequently, the Tatas took over, making a payment of around Rs 670 crore for a two-year period.
Going forward, BCCI has plans to raise the number of matches to 84 in 2025 and 2026 and 94 in 2027 from the current format of 74 matches.
The upcoming Indian Premier League (IPL 2024) is set to commence on March 22, even with the Lok Sabha elections taking place between April and May. A top source from the Board of Control for Cricket in India said that the IPL will take place in India, unaffected by the Lok Sabha polls.
During the 2009 general elections, the IPL 2009 tournament took place in South Africa. In 2014, the tournament began in the UAE, with the first 20 matches being played there. However, the remaining matches were moved to India following the elections.
In 2019, despite the elections, the entire tournament was hosted in the subcontinent. Once again, the BCCI is planning to follow a similar approach this time.
Also read: IPL 2024 will start in India from March 22 despite Lok Sabha elections: Report