In a strategic move, Tata Sons Private Limited has successfully utilized its Right to Match card, retaining the prestigious title sponsorship of the Indian Premier League (IPL) for the upcoming five seasons, spanning 2024 to 2028. This development follows the Board of Control for Cricket in India’s (BCCI) release of an Invitation to Tender (ITT) for Title Sponsor Rights in late December 2023.
Tata Group Secures IPL Title Sponsorship: Context
In 2022, Tata Group had initially replaced Chinese mobile manufacturer Vivo as the IPL title sponsor for the 2022 and 2023 seasons, contributing INR 365 crore per season. With their current decision to retain the title sponsorship, the group is poised for an extended and prominent association with the world’s most lucrative cricket league.
Tender Process Details
- BCCI outlined the tender process, including eligibility requirements and submission procedures, in the ITT document.
- Interested parties were required to adhere to specific brand categories outlined in Annexure B, restricting certain entities from bidding.
Tata’s Right to Match
- Tata Sons Private Limited, as the existing title sponsors, exercised their ‘Right to Match’ in response to the valuation presented by Aditya Birla Group, securing the sponsorship for the next five years.
Important Takeaways For All Competitive Exams
- Tata Group Retains IPL Title Sponsorship (2024-2028): Tata Sons Private Limited exercises Right to Match, securing continued sponsorship, matching Aditya Birla Group’s valuation.
- Long-Standing IPL Association: Tata replaced Vivo in 2022 and extends its partnership for the next five years, showcasing ongoing commitment to the world’s premier cricket league.
Important Questions Related to Exams
- What is the duration of Tata Group’s renewed IPL title sponsorship?
- Who did Tata Group replace as the title sponsor of the IPL in 2022?
- What was the amount paid per season by Tata Group in their last IPL deal?
- When did the Board of Control for Cricket in India release the Invitation to Tender for IPL title sponsorship?
- What is the fee for purchasing the ITT documents for IPL title sponsorship?
- Which group presented a valuation that Tata Group matched for IPL title sponsorship?
- In which years did Tata Group initially secure the IPL title sponsorship?
Kindly share your responses in the comment section!!