Tata Retains IPL Title Rights For Five Years At ₹500 Crore Annually

The conglomerate used the right-to-match option to surpass the highest bid of ₹2,500 crore.

Tata Group secured the Indian Premier League (IPL) title rights for the next five years (2024-28) by matching Aditya Birla Group's highest bid of ₹2500 crores (₹500 crores each year).

"Tata decided to exercise the right-to-match as specified in the tender document," an IPL official informed of the situation stated.

ABG was the sole entity that bid for the rights. According to industry analysts, the right-to-match clause may have contributed to a lack of interest in the bidding process, with the Tatas eager to proceed at the best possible price. However, BCCI authorities are said to be pleased that the rights have remained with a reputable commercial organization.

The Vivo experience did not go well with the Indian board, as the Chinese smartphone makers were forced to withdraw as title sponsors before the IPL 2020 due to rising anti-Chinese sentiment in the country. Vivo's winning offer for the 2018-22 cycle increased the annual valuation of IPL title rights to ₹440 crore. BCCI was forced to temporarily offer Dream 11 rights at half the price for a year. Vivo returned for a year in 2021, after which the Tatas took over, spending around ₹670 crore for two years.