IPL 2024: Tata Group has once again become the title sponsor of the India Premier League (IPL). Tata has purchased the title sponsorship rights of IPL till 2028, for this Tata has spent Rs 2500 crore. In this context, the Board of Control for Cricket in India (BCCI) will get Rs 500 crore for one season. Read this also: Pakistan Cricket Board Chairman Zaka Ashraf left the post, tough decision had to be taken after government intervention
According to media reports, apart from Tata, Aditya Birla Group (ABG) had shown interest for the title sponsorship of IPL. ABG made a bid of Rs 2500 crore. At the same time, Tata Group agreed to pay the same amount as ABG using the right-to-match card.
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In fact, as per the terms of the Invitation to Tender (ITT) document, Tata could retain the title sponsorship rights if it agreed to pay the highest amount offered by other bidders. In such a situation, Tata agreed to pay Rs 2500 crore and regained the sponsorship rights.
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Tata Group had earlier given Rs 670 crore for sponsorship for IPL 2022 and 2023. Before Tata, the title sponsor of IPL was VIVO. BCCI decided not to take sponsorship from Chinese companies due to the dispute between India and China.
