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TATA, the Indian largest conglomerate, has secured the title sponsorship rights of the Indian Premier League (IPL) for five more years. After the Aditya Birla Group (ABG) emerged as the sole bidder for the IPL title sponsorship rights for the 2024-28 period during the bidding process, TATA used their right to match to pip them into getting the deal done.
Notably, the Board of Control for Cricket in India (BCCI) released the tender for the IPL title sponsorship rights for the 2024-28 period on December 12. They had set a base price of ₹1,750 crore over five years, or ₹350 crore per year, for 74 matches of the IPL.
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Following the last date of January 12 to submit bids for the coveted marketing property, the Aditya Birla Group was contenting with TATA for the IPL sponsorship rights. And now, the news has emerged that TATA decided to continue their partnership with the Indian Premier League after replacing VIVO in the year 2022.
In the last two years, TATA paid around ₹670 crore for IPL title sponsorship rights, while Vivo paid a total of ₹454 crore for the termination of their contract with the league following the Indian-Chinese political issues.
Moreover, BCCI had also recommended bidders apply for 84 and 94 matches of the IPL for the title sponsorship rights at the base price of ₹375 crore and ₹400 crore, respectively. As per the report from the Economic Times, a top executive of a leading sports marketing agency was quoted as saying “If the BCCI increases the number of games from 74 to 84 and 94, the IPL title rights holder will have to pay sponsorship fee on the basis of their bid amount for 84 and 94 games.”
