IPL title-rights race intensifies as Aditya Birla Group makes Rs 500 cr bid: Reports

The competition for the IPL title sponsorship seems to be intensifying with the Aditya Birla Group making a yearly bid of Rs 500 crore (a total of Rs 2500 crore) to become the title sponsors of the popular T20 league for the 2024-28 cycle.

The reserve price for the IPL title sponsorship is set at Rs 350 crore, totalling Rs 1,750 crore for a span of five years, according to media reports.

Tata Sons spent Rs 670 crore in total for the previous two IPL seasons, covering 2022 and 2023. The IPL 2024 is set to have 74 matches, and the BCCI aims to increase the number to 84 for 2025 and 2026, and further to 94 in 2027.

Reports also stated that according to the rules set by the BCCI for the IPL title sponsorship bidding, the Tata Group gets the initial right of refusal. However, if they want to retain the rights, they must match the highest offer. The bid needed to be submitted by 5 pm last Friday, and the tender was announced on December 12, 2023.

If the IPL initiative is successful, it will help the Aditya Birla Group, valued at $65 billion, in expanding its range of products for customers and making its brand more appealing to the younger audience, according to the reports.

Info@BestMediaInfo.com