TATA grab IPL title rights until 2028. Under the arrangement, the group will contribute Rs 500 crore per season.
In a significant development for the IPL, the Tata Group has successfully retained title rights to the IPL till 2028. The arrangement includes a commitment to contribute Rs 500 crore per season.
According to the regulations outlined in the Invitation To Tender (ITT) document, Tata could have preserved title rights to the IPL if they had matched the highest bid submitted by any other firm.
The Tata Group matched Aditya Birla Group’s offer of Rs 2500 crore valuation. The BCCI (Board of Control for Cricket in India) decided to grant Tata Group the title rights.
Tata has been the IPL’s headline sponsor since 2022, when they acquired the rights from Vivo. Their previous agreement saw Tata Group contribute Rs 365 crore per seaso. Vivo paying the remaining value because the group had previously sublicensed the rights.
Vivo acquired the championship rights in 2018 for an initial five-year period, agreeing to spend Rs 2199 crore. Due to the epidemic, the agreement was extended from five to six years.
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IPL title up for grabs as teams settle in
The 17th season of the IPL is set to begin in the middle weeks of March 2024. The MS Dhoni-led Chennai Super Kings won the 2023 edition following a spectacular campaign in which they overcame the Gujarat Titans in a nail-biting final match.
Furthermore, with the auction for the 2019 edition concluded, the various teams have filled their squads with a multitude of famous players, and fans are eager to find out who will win the title in 2024.
With Hardik Pandya taking over as captain of the Mumbai Indians from Rohit Sharma, and MS Dhoni returning for another season, the 17th edition of the competition promises to be an exciting affair.
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