Aditya Birla Group (ABG) and Tata Sons are currently in competition for the title sponsorship rights of the Indian Premier League (IPL). Bids for this highly sought-after marketing opportunity had to be submitted by January 12.
Although Aditya Birla Group (ABG) was the only one to submit the bid, Tata Sons, the current titleholder, retains the option to match any successful proposal as per the agreement between BCCI and Tata Sons. According to a report by the Economic Times, ABG presented an offer slightly above the specified base price.
On December 12, the Board of Control for Cricket in India (BCCI) issued the tender for title sponsorship rights for the IPL seasons from 2024 to 2028. The specified base price for the five-year period amounts to Rs 1,750 crore, equivalent to Rs 350 crore annually, covering 74 matches.
Advertisement
In addition to the initial offering of 74 matches with a base price of Rs 350 crore per year, BCCI suggested contemplating submissions for 84 to 94 matches, with respective base prices of Rs 375 crore and Rs 400 crore. A source cited in the report clarified that should BCCI decide to increase the match count, the IPL title rights holder would be obligated to pay the sponsorship fee according to their bid amount for the expanded matches.
In 2023, the IPL garnered an audience of more than 500 million on television and nearly 450 million on digital platforms. IPL is considered to be India's most widely followed yearly sporting event.
Just one email a week