Tata Group to continue as IPL title sponsor for 5 seasons
As per reports, the conglomerate has exercised its 'right to match' for the 2024-2028 period at a cost of Rs 2,500 crore
The Tata Group has retained its IPL title rights for the next five seasons, media networks have reported.
The conglomerate has exercised its 'right to match' for the 2024-2028 period at a cost of Rs 2,500 crore (Rs 500 crore per year), reports said.
Thus Tata has equalled the bid made by Aditya Birla Group.
For the last two IPL seasons, Tata Sons has paid Rs 670 crore.
At the start of the year, BCCI fixed Rs 350 crore per year as IPL title sponsorship rights for the 74 matches.
The IPL media rights value for five years was reportedly pegged at Rs 1,750 crore.
The cricket body also asked bidders to bid for 84 and 94 matches at Rs 375 crore and Rs 400 crore as the base price. The bid would be finalised basis of the aggregate value of 74 matches, earlier reports had said.
On January 18, BCCI also invited bids for acquiring the rights and obligations to stage the Opening Ceremony for the Indian Premier League - Season 2024.
