(Cricket news) 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 INR 2500 crore for the duration.

TATA had the privilege to match any competitive offer made by another corporate entity under the terms outlined in the Invitation To Tender (ITT) document. TATA group matched the valuation presented by Aditya Birla group in order to secure the rights for a term of 5 years.

TATA acquired the rights back in 2022 from Vivo who secured the rights in the year 2018 for a period of 5 years promising to pay a sum of INR 2199 crore, with the exit value in the final year set at INR 512 crore. 

Vivo withdrew their deal in the year 2021 due to the challenges encountered because of the diplomatic tensions between India and China. In order to compensate the deal, TATA stepped in for a period of 2 years agreeing to pay a sum of 365 crore per season, with vivo covering the remaining value.

The BCCI granted the Tata Group the right to match any new offers for the IPL title rights. The TATAs subsequently agreed to match the Aditya Birla Group’s bid of INR 2500 crore for a five-year term until 2028.

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