TATA retain IPL title rights until 2028

The Tata Group has successfully retained the title rights for the Indian Premier League (IPL), securing the position for the next five years by extending the deal until 2028. The agreement involves a commitment to contribute Rs 500 crore per season.

Under the terms outlined in the Invitation To Tender (ITT) document, Tata had the privilege to match any competitive offer made by another corporate entity. In line with this provision, the group has chosen to match the Rs 2500 crore valuation presented by the Aditya Birla Group. The Board of Control for Cricket in India (BCCI) made this decision on Friday.

The Tatas acquired the rights in 2022 after sub-licensing it from Vivo. The smartphone company sought to withdraw from the deal for various reasons, with its Chinese connections being a factor, if not the only one.

Vivo had secured the rights starting with the 2018 season for a initially planned five-year period, committing to pay Rs 2199 crore, with the exit value in the final year set at Rs 512 crore. However, the deal eventually ran for six years, as it was paused for a year during the pandemic.

When the IPL-Vivo deal encountered challenges due to diplomatic tensions between India and China, the Tata Group stepped in during 2022 and agreed to contribute Rs 365 crore per season, with Vivo covering the remaining value. Following the successful conclusion of this arrangement, the BCCI granted the Tata Group the right to match any new offers. Subsequently, the Tatas have agreed to match the Aditya Birla Group’s bid of Rs 2500 crore for a five-year term.