The Aditya Birla Group (ABG) has emerged as the sole bidder for title sponsorship rights of the Indian Premier League. The last date for submitting bids was January 12.
Tata Sons, the incumbent title rights holder, retains the option to match any successful proposal. Per the Economic Times, ABG presented an offer slightly above the specified base price.
On December 12, the Board of Control for Cricket in India (BCCI) issued the tender for title sponsorship rights for the IPL seasons from 2024 to 2028. The specified base price for the five-year period amounts to Rs 1,750 crore, equivalent to Rs 350 crore annually, covering 74 matches.
In addition to the initial offering of 74 matches with a base price of Rs 350 crore per year, BCCI suggested contemplating submissions for 84 to 94 matches, with respective base prices of Rs 375 crore and Rs 400 crore.
A source cited in the report clarified that should BCCI decide to increase the match count, the IPL title rights holder would be obligated to pay the sponsorship fee according to their bid amount for the expanded matches.
