The race for the IPL 2024 title rights just got spicier, with the esteemed Aditya Birla Group (ABG) reportedly making a Rs 500 cr bid per year. As per Times of India, ABG has bid overall for a massive Rs 2500 cr for the title rights of the marquee tournament over the next five years (until 2028).
IPL: ABG makes grand entry with Rs 500 cr bid for title rights
While Tata Sons previously paid Rs 670 cr for IPL 2022 and 2023, the reserve price is set at Rs 370 cr per year, amounting to Rs 1750 cr for five years. The report further claims that the BCCI plans to increase the number of matches to 84 in 2025 and 2026 and to 94 in 2027.
While Tata Sons possess the Right to Refusal, they do have to meet the highest bid in order to retain the rights. As per the report, Aditya Birla Group refused to comment on the matter, adding that they would evaluate the IPL title rights issue.
Fantasy gaming cos banned from IPL title sponsorship bid
BCCI) has prohibited fantasy gaming companies from bidding for the title sponsor of IPL 2024. BCCI are on the hunt for a new title sponsor for the league, with the previous sponsors Tata Group paying Rs 360 cr for the last two editions after taking over from previous sponsors Vivo.
According to Cricbuzz, one of the conditions that deem a company ineligible to bid for the rights of IPL’s title sponsor include companies directly or indirectly engaging in fantasy gaming.
“Bidder operating/engaged directly or indirectly in fantasy gaming. To clarify, a Bidder, including any of its Group companies, engaged or operating in the business of fantasy sports gaming, is not permitted to submit a Bid“, one of the BCCI’s conditions read.
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