TATA owns IPL title rights till 2028.

The Tata Group has successfully retained title rights to the Indian Premier League (IPL), securing the status for the next five years by extending the agreement until 2028. The contract includes a commitment to contribute INR 500 crore each season.

According to the conditions of the Invitation To Tender (ITT) document, Tata had the right to match any competitive offer made by another business entity. In accordance with this provision, the group has decided to match the Aditya Birla Group’s INR 2500 crore valuation. The Board of Control for Cricket in India (BCCI) made the decision on Friday.

The Tatas obtained the rights from Vivo in 2022 through a sub-licence agreement. The smartphone maker attempted to withdraw from the transaction for a variety of reasons, including, but not limited to, its Chinese connections.

Vivo has obtained the rights for a five-year period beginning with the 2018 season, agreeing to pay INR 2199 crore, with an exit value of INR 512 crore in the last year. However, the agreement was eventually extended for six years after being delayed for a year due to the pandemic.

When the IPL-Vivo arrangement faced difficulties because to diplomatic problems between India and China, the Tata Group came in in 2022 and promised to contribute INR 365 crore per season, with Vivo covering the remaining value. Following the successful completion of this agreement, the BCCI allowed the Tata Group the option to match any additional offers. The Tatas have agreed to match the Aditya Birla Group’s bid of INR 2500 crore for a five-year term.

The BCCI has imposed tough conditions on prospective buyers. Notably, the BCCI has stated that it will not consider offers from Chinese corporations or brands, citing a desire to avoid association with firms from nations that do not have positive relations with India. It did not, however, pinpoint any specific country, but its negative experience with Vivo was clearly taken into account.

The ITT has the following clause: “Each bidder that is a corporate body must not be formed in a jurisdiction/territory with which India does not have a friendly relationship. In the event that any corporate(s) that is a shareholder or a proposed shareholder in the Bidder has been established in a jurisdiction/territory with which India does not have friendly relations, the Bidder will have to submit a detailed chart of the shareholding in such Bidder or its ultimate Parent Company, as well as the information regarding the ultimate owners/beneficiaries of all shareholders which are body corporate in such Bidder or its ultimate Parent Company, along with the Bid Document.