Tata again buys IPL title rights: Will sponsor the tournament till 2028, will give ₹500 crore every season
Tata again buys IPL title rights: Will sponsor the tournament till 2028, will give ₹500 crore every season.
Tata again buys IPL title rights: Tata again bought the title rights of the Indian Premier League (IPL). The 5-year rights were bought by BCCI (Board of Control for Cricket in India) for Rs 2500 crore, which will get Rs 500 crore from the title sponsor for one IPL season.
Tata was the title official of IPL earlier also. In 2022, the company bought the rights till 2023 by paying Rs 730 crore.
The Aditya Birla Group made an offer of Rs. 2,500 crore as well.
The companies bid after receiving the bid from BCCI. Aditya Birla Group had bid Rs 2500 crore in this. BCCI then asked Tata whether they too were ready to bid this much. Tata Group also bid Rs 2500 crore and got sponsorship.
The tender was issued a month ago.
A month ago, BCCI had issued a tender to sell the title rights of IPL. BCCI had to submit a tender document of Rs 5 lakh to buy the rights. January 8 was his last date. The companies were to send the payment details after purchasing the document on ipltitlesponsor2023.itt@bcci.tv.
Chinese companies cannot sponsor.
Chinese companies cannot participate in sponsorship, as BCCI had made clear in its tender document. Due to border and political differences between India and China, BCCI decided not to take sponsorship from Chinese companies. In 2021, Chinese technology company Vivo first sponsored the title of IPL.
DLF is the first sponsor company.
Tata is currently the title sponsor of IPL. That means IPL will be called Tata IPL (ie not IPL). That is, the brand name before the league name like DLF IPL in 2008. Title sponsorship, for which companies make deals by bidding, is called this.
In 2008, ₹50 crore was given annually for title sponsorship, which was increased to ₹500 crore in 2024. There is a five-year deal between Tata and BCCI, in which Tata has given ₹2500 crore.
IPL can start from March 22.
The 17th season of IPL will be played this year. According to news, the IPL tournament may start from March 22, but the dates of Lok Sabha elections in the country have not been released yet. The previous tournament took place from March 31 to May 28, 2023. Then Chennai Super Kings won the title by defeating Gujarat Titans in the final.
Mini auction was held on 19th December.
On December 19, last month, a mini auction was held for the new season of IPL. 10 teams bought 72 players for Rs 230.45 crore, which included 30 foreign players. Australian pace pair of Pat Cummins and Mitchell Starc made a record-breaking bid. Kolkata made Starc the most expensive player in franchise cricket history by buying him for Rs 24.75 crore. Whereas Hyderabad bought Cummins for Rs 20.50 crore. Read More……
IPL 2024 Mega Auction: Mitchell Starc Becomes the Most Expensive Player at ₹24.75 Crore – Searchgyan
Writer of this article.
This helpful article is written by HARIBOL GUPTA(Founder)
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