For the following three years, Infrastructure Development Finance Company will take Mastercard’s place as the BCCI’s title sponsor. After PayTM left with a year left on its contract, Mastercard acquired the rights.
A new title sponsor for domestic international matches has been announced by the Board of Control for Cricket in India (BCCI). To win the BCCI title sponsor contract, worth Rs 4.2 Crore per match, IDFC First Bank outbid Sony Sports. Since only two businesses entered the bidding procedure, BCCI dropped the base price to Rs 2.4 Crore. As compensation for acquiring the rights from PayTM, Mastercard paid Rs 3.8 Cr each match.
Today in Mumbai, the sealed bidders’ session took conducted. The headline sponsor for the India vs. Australia one-day international series, which begins on September 22, will be IDFC First Bank after the agreement is finalised.
The three-year agreement will begin on September 1 and last between BCCI and IDFC First Bank. In India, 56 international games will be covered by the deal. The Indian board would earn Rs 987.84 Cr from the arrangement over the following three years, according to a Cricbuzz report.
The bid Sony Sports submitted for the BCCI title sponsorship was interesting. With regard to BCCI Media Rights, Sony is still a contender.