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In a recent development, Tata Sons has successfully retained the title sponsorship rights for the Indian Premier League (IPL) from 2024 to 2028. The conglomerate matched the bid of Aditya Birla Group (ABG), standing at a substantial Rs 2500 crores, equivalent to Rs 500 crores per year. Notably, ABG was the sole bidder for the rights this year.
This retention comes in the wake of the Board of Control for Cricket in India (BCCI) releasing the tender for IPL title sponsorship rights on December 12, 2023. The base price for this five-year period was set at Rs 1,750 crores, translating to Rs 350 crores annually, covering 74 matches.
Tata’s decision to exercise the right-to-match, as outlined in the tender document, played a pivotal role in securing the rights. The conglomerate has been the IPL’s title sponsor since 2022, paying Rs 670 crores for the two-year rights. This time around, the Tatas are contributing approximately 50% more compared to their previous contract, underlining the escalating financial dynamics of sports sponsorships.
Prior to Tata Sons, Vivo held the IPL title rights for the 2018-22 period at Rs 440 crores per year. However, due to unforeseen circumstances, BCCI temporarily granted the rights to Dream 11 at a discounted price for one year. Vivo returned for the 2021 season, paving the way for Tata Sons to take over with a payment of around Rs 670 crores for a two-year period.
Looking ahead, BCCI has ambitious plans to increase the number of IPL matches to 84 in 2025 and 2026 and 94 in 2027, surpassing the current format of 74 matches.
Despite the upcoming Lok Sabha elections scheduled between April and May, the IPL 2024 is set to kick off on March 22. A reliable source from the BCCI assured that the tournament will proceed in India without any disruption from the electoral proceedings. This reaffirms the resilience and significance of the IPL in the cricketing landscape, remaining a premier sporting spectacle even amidst significant national events.