Tata faces stiff competition for IPL rights as Aditya Birla Group joins title race
The Indian Premier League (IPL) title rights saga just got a spicy twist with the entry of a new contender: the Aditya Birla Group (ABG). According to credible sources, the diversified conglomerate has submitted a bid of a whopping Rs 500 crore per year, totalling Rs 2500 crore for the 2024-28 cycle, significantly raising the stakes and injecting fresh excitement into the process.
Tata Group are the current holders of the rights, having paid the Indian Cricket Board 670 crore for the last couple of seasons. However, now, the ABG’s aggressive move will throw down the gauntlet. Now, it’s a high-stakes poker game, with Tata holding the first right of refusal. But here’s the twist: to keep the crown, Tata must match ABG’s staggering offer.
Analysts believe ABG’s interest stems from several factors. The IPL enjoys unmatched popularity, making it a prime avenue for brand building and consumer engagement. The group’s diverse portfolio, spanning across sectors like telecom, cement, and retail, could benefit from the association with a youth-centric event like the IPL. Additionally, the international exposure gained through the IPL sponsorship aligns with ABG’s global aspirations.
While ABG’s bid signifies a serious intent, industry experts caution that the final outcome is far from decided. Tata Sons and Reliance Jio remain formidable contenders, each with their own compelling reasons for securing the title rights. The bidding process is expected to be fiercely competitive, with each contender likely to have pulled out all the stops to secure the coveted title rights. The board, meanwhile, stands to reap the rewards of this intense competition, with the potential to rake in a record-breaking sum.
The schedule to be released soon
Cricket fans eagerly awaiting the IPL schedule will need to hold their breath a little longer. The Indian Cricket Board is yet to release the fixture list, with a close eye on upcoming election dates in the country.
While a home-based IPL is highly likely, the tournament’s format may undergo a twist. Sources suggest a “caravan mode” is being considered, which would see teams travel together and play matches in a limited number of venues to minimize logistical challenges amidst election activities.
