Aditya Birla Group and Tata Sons are currently in contention for the title sponsorship of the Indian Premier League (IPL). Following the bid submission deadline on January 12, Aditya Birla Group emerged as the sole bidder. However, Tata Sons has the option to match any winning bid, as per their agreement with the Board of Control for Cricket in India (BCCI). Aditya Birla Group's proposed amount slightly exceeded the base price of Rs 1,750 crore over five years, Economic Times reported citing unnamed sources.
After the bid from the Kumar Mangalam Birla-led group, Tata Sons now has until Friday to respond. The BCCI issued a tender for IPL title sponsorship rights covering the 2024-2028 seasons on December 12. The base price of Rs 1,750 crore over five years implies an annual commitment of Rs 350 crore for 74 matches. Additionally, the BCCI suggested alternative bid options for 84 matches at a base price of Rs 375 crore each and 94 matches at base prices of Rs 400 crore each, as reported by Economic Times.
The IPL, India's premier annual sporting event, offers significant exposure for its title sponsors, attracting over 500 million television viewers and nearly 450 million on digital platforms in 2023. Previous title sponsors include DLF, Pepsi, Vivo, and Dream11.
Brand marketing expert Harish Bijoor, speaking to Economic Times, emphasized that while the IPL title sponsorship is valuable, past sponsors haven't fully capitalized on its potential. He stressed that to maximize its value, sponsors must invest significant time, energy, and resources to become synonymous with the IPL brand. The five-year duration, he noted, provides ample time to establish a lasting association with the IPL.