The Board of Control for Cricket in India (BCCI) is inviting bids for the title sponsorship for international and domestic matches as the four-year deal with Paytm is coming to an end.
The title sponsorship is for the period starting September 1, 2019 and will last through March 31, 2023. It will take place through a tender process.
Interested players can submit their bids online latest by 11 pm on August 19.
“Evaluation of eligibility documents and communication to eligible bidders will take place on August 20, 2019. Opening of financial bids followed by online auction (if required) will take place on August 21, 2019,” said BCCI in a media release.
It was in 2015 when Paytm, owned by One97 Communication, had acquired the title sponsorship rights for matches held in India for a period of four years.
The e-commerce company had shelled out Rs 203 crore for the rights that included branding of the series with the title sponsor logo along with the designation as the title sponsor of the series. The deal also included visibility at the stadium, and broadcast sponsorship rights.
Prior to Paytm, Micromax was the title sponsor during 2014 and 2015. Before that, it was Star India for 2013 and 2014; and between 2010 and 2013 it was Airtel that had acquired the title sponsorship rights.
While Micromax and Star India had spent around Rs 2 crore for every match, the cost per match was higher for Paytm and Airtel, falling in the range of Rs 2.42 crore- Rs 3.3 crore.
The price per match was lower for Micromax and Star India as the duration of the title sponsorship rights was for a shorter period of time (around a year).
Recently, the sponsorship rights for the Indian cricket team was passed onto Byju’s, the education technology firm, after Oppo decided to opt out of the deal as it was no longer viable for the company.
According to experts, BCCI stands to benefit from this transfer of sponsorship rights as the new rates could be as high as high as 10 percent.
Oppo had outbid its rival Vivo, which had quoted Rs 768 crore. Oppo won the rights for a whopping Rs 1,079 crore. The deal included Rs 4.6 crore for every bilateral match and Rs 1.5 crore for ICC events.
Experts say that high price for cricket sponsorship sets a wrong precedent. However, it will only increase going forward.