With ABG showing interest, IPL title-rights race hots up

10 months ago 13

INDORE/MUMBAI: The

IPL title sponsorship

game may just have got bigger. TOI has learnt from highly-placed sources that multinational conglomerate

Aditya Birla Group

has put in a Rs 500-crore bid per year (Rs 2500 crore in all) to be the title sponsors for the highprofile T20 league for the next five years — for the 2024-28 cycle.
The reserve price for the IPL title sponsorship is Rs 350 crore which comes to Rs 1750 crore for five years. Tata Sons paid Rs 670 crore for the last two IPL seasons — 2022 and 2023. There will be 74 matches in the IPL 2024 which the

BCCI

plans to raise to 84 in 2025 and 2026 and 94 in 2027.
As per the rules made by the BCCI for the IPL title sponsorship bidding process, the Tata Group has the first right of refusal. However, they will have to match the highest bid to retain the rights. The deadline to submit the bid was 5pm on Friday. The tender was floated on December 12, 2023.

When contacted, an Aditya Birla Group spokesperson declined to comment on the development. A Tata Group executive said, “We will evaluate the IPL rights issue.”.
The BCCI had also indicated that it may not entertain bids from Chinese companies or brands, citing its reluctance to be associated with firms from countries that do not have ‘friendly’ relations with India. The BCCI had also rejected bids from companies associated with fantasy games, sportswear, and cryptocurrency, in addition to betting and gambling firms, having outlined specific criteria for ineligibility.

The IPL initiative, if successful, will help the $65-billion Aditya Birla Group broaden its consumer offerings while also making its brand more attractive to younger customers.
WPL’s second edition to be held first in Bangalore, then Delhi
The second edition of the Women’s Premier League will first be held in Bangalore, and then move to Delhi, TOI has learnt. The tournament will start in February-end and finish by midMarch. The first edition of the WPL was held at two venues — the DY Patil Stadium in Navi Mumbai and the Brabourne Stadium in Mumbai last March.

Article From: timesofindia.indiatimes.com

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