Tata Secures IPL Title Rights Till 2028 with 500 Crore Investment Per Season
Tata company has once again purchased the title rights for the Indian Premier League (IPL). The company has acquired the rights for a five-year period at the cost of 25 billion rupees, meaning the Board of Control for Cricket in India (BCCI) will receive 5 billion rupees per season from the title sponsor.
This is not the first time Tata has held the IPL title rights. In 2022, the company paid 7.3 billion rupees for the rights until 2023.
Aditya Birla Group also placed a bid of 25 billion rupees after submitting tender documents to the BCCI. Following the purchase of tender documents, companies submit their bids. Aditya Birla Group and Tata both bid 25 billion rupees and secured the sponsorship.
Tender Released a Month Ago
The BCCI released the tender for IPL title rights a month ago. Companies submit bids after purchasing tender documents. Aditya Birla Group placed a bid of 25 billion rupees. Afterward, the BCCI asked the previous sponsor Tata whether they were willing to match these bids. Tata Group also bid 25 billion rupees and retained the sponsorship.
Chinese Companies Cannot Sponsor
The BCCI explicitly stated in its tender documents that Chinese companies cannot bid for sponsorship. Due to border and political tensions between India and China, the BCCI decided not to accept sponsorship from Chinese companies. Vivo, a Chinese tech company, was the title sponsor of IPL in 2021.
DLF First Title Sponsor Company
Currently, Tata is the title sponsor for IPL. This means it’s not just IPL but Tata IPL. The league’s name reflects the brand’s name first, similar to DLF in 2008. For title sponsorship, companies bid, and the highest bidder wins the deal.
In 2008, the title sponsorship was offered at an annual rate of ₹50 crores, and in 2024, this figure is expected to reach ₹500 crores annually. Tata and BCCI have a 5-year deal, for which Tata has paid a total of ₹25 billion.
IPL 22 May Start from March 22
This year will witness the 17th season of IPL. According to reports, the tournament may start from March 22. However, due to the announcement of Lok Sabha election dates not being declared in the country, the schedule for IPL has not been officially announced yet. The previous tournament ran from March 31 to May 28, 2023. Chennai Super Kings emerged victorious in the final, defeating Gujarat Titans.
