TATA retain IPL title rights until 2028 at Rs 500 crore per year

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The Tata Group has successfully retained the title rights for the Indian Premier League (IPL) for the next five years until IPL 2028. The deal between the Tata Group and BCCI has been extended for five years.

Tata will contribute Rs 500 per year under the new agreement. Under the terms outlined in the Invitation To Tender (ITT) document, Tata had the privilege to match any competitive offer made by another corporate entity.

Aditya Birla Group made a bid for Rs 2500 crore and Tata matched the valuation to grab the deal for the next five years. The Board of Control for Cricket in India (BCCI) made this decision on Friday.

“Tata decided to exercise the right-to-match as laid down in the tender document,” an IPL official aware of developments said.

Tata has until January 19 to match the bid by Aditya Birla Group (ABG), according to a person with knowledge of the development. The Board of Control for Cricket in India (BCCI) released the tender for title sponsorship rights for the IPL seasons 2024-2028 on December 12, 2023.

The base price is Rs 1,750 crore over five years, or Rs 350 crore per year, for 74 matches. BCCI had also recommended bidders apply for 84 and 94 matches at base prices of Rs 375 crore and Rs 400 crore, respectively.

"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," said a top executive with a leading sports marketing agency as quoted by The Economics Times.

DLF, Pepsi, Vivo and Dream11 have previously held the IPL title rights. The annual value of the IPL title rights rose from Rs 40 crore paid by DLF for 2008-12 to Rs 440 crore per year offered by Vivo for 2018-19.

Vivo pulled out in 2021 after growing anti-Chinese sentiments within the country. The Chinese mobile makers had pushed the IPL title rights valuation up to Rs 440 crore per year with their winning bid for 2018-22 cycle. IPL took over the IPL title rights in 2022, paying approximately Rs 670 crore for two years.