Mumbai: In a significant development, the Board of Control for Cricket in India (BCCI) has awarded the title rights for the Indian Premier League (IPL) until 2028 to Tata Group. The conglomerate has committed to an annual payment of Rs 500 crore for each IPL season as part of this exclusive deal.
While several contenders vied for the prestigious title rights, including the Aditya Birla Group, Tata emerged victorious in securing the rights till 2028. The Board had set a base price of Rs 1750 crore for the title rights over the five seasons from 2024 to 2028.
According to the rules outlined in the invitation-to-tender document, Tata Group had the option to retain the title rights by matching the highest offer presented by another bidder. In a strategic move, Tata decided to exercise the right-to-match provision and maintained the rights at the offered price.
Aditya Birla Group had submitted a bid exceeding the base price, valuing the title rights at Rs 2,500 crore for the next five seasons. However, Tata Group chose to match this offer, leading to the decision by BCCI to hand over the title rights to Tata.
This acquisition further solidifies Tata Group’s presence in the sports sponsorship arena, marking a significant chapter in the conglomerate’s association with one of the most popular cricket leagues globally.
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