The Aditya Birla Group (ABG) has reportedly entered the race for the Indian Premier league title rights with a Rs 500 crore per year bid, totalling Rs 2,500 crore over five years.
To put this bid into perspective, Tata’s title rights for IPL 2022 and 2023 toted up to Rs 670 crore (Rs 335 crore per year). The Board of Control for Cricket in India has set the reserve price for IPL title rights at Rs 370 crore per year, amounting to Rs 1,750 crore for a five-year period.
It bears noting that the BCCI has laid out plans to increase the number of matches in the IPL from next year on, with 84 matches scheduled for 2025 and 2026, and 94 matches for 2027.
Fantasy gaming companies barred from bidding
As per the rules established by the BCCI, companies engaged directly or indirectly in fantasy gaming are deemed ineligible to bid for the title sponsor rights. This move aims to ensure fair competition and prevent conflicts of interest.
Additionally, the BCCI has hinted at refraining from entertaining bids from Chinese companies or brands due to “diplomatic considerations”.
As reported by the Times of India, Aditya Birla Group opted not to comment on the IPL title rights matter and stated their intention to assess the situation.
The Tata Group holds the primary right of refusal but is required to match the highest bid to secure the IPL title rights. When questioned by TOI, a Tata Group executive mentioned, “We will evaluate the IPL rights issue.”
The deadline for bidding was 5 pm on Friday, following the issuance of the tender on December 12, 2023.
