With one of highest bids, Paytm bags title sponsorship rights of BCCI for 4 years

News Bharati English    31-Jul-2015

New Delhi, July 31: An online recharge website turned e-commerce, Paytm on Thursday bags the title sponsorship rights from BCCI International and Domestic matches auction by winning a bid for price of 203.28 crore, which would be paid till the terms gets end.

According to the statement of Board of Control of Cricket in India, it said “One 97 Communications Pvt. Ltd. (Paytm) has acquired the sponsorship rights for the BCCI International and Domestic matches”.

The release added “The winning bid was at a price of Rs.203.28 Crores to be paid over the 4 years term. The bid was opened in the meeting of the BCCI marketing committee held earlier today in New Delhi”.

Secretary of the BCCI, Mr. Anurag Thakur said, “We are elated to have Paytm as our homes series title sponsors. They are one of the new generation companies and we are delighted to partner with them”.

He also said “Having them for next four years gives the stability and continuity to Indian cricket.​ ​With nearly 84 matches scheduled over the next 4 years with all major countries playing in India we are hopeful that Paytm will be able to build a strong and strategic association with Cricket”.

“We are also happy that the realization has increased by 20%. It augurs well for Indian cricket. I am thankful to Paytm for their interest and faith in Indian Cricket and welcome them on board”, he added.

On the other hand, after winning a bid of BCCI, Vijay Shekhar Sharma, Founder & CEO of Paytm, said, “Cricket is the dream sport for us in India. Cricket epitomizes the Paytm values of passion, hard work and team effort”.

Sharma said “We are very happy to partner with the BCCI and cheer for Indian cricket with millions of fans. Over the next 4 years, we will continue to invest strongly in cricket and other sports. As a growing brand which has big plans for a billion strong Indians, there is no better platform than cricket in India.”

India will host South Africa later this year which will be the start of the International season association with Paytm.

The base price for the bidding was Rs 1.7 crore, Rs 30 lakh less than the base price for the last two bidding events. A source said, “In 2013 and 2014, the duration of the title sponsorship rights was less. This time, it’s a longer duration. Hence, the matches and the base price are more.”

Paytm’s bid (Rs 2.42 crore per match) is 42 per cent higher than the base price (Rs 1.7 crore). The past two sponsorship rights did not see this kind of bidding. Micromax paid Rs 2.02 crore per match on a base price of Rs 2 crore. STAR India had bought the rights at Rs 2 crore per match on a base price of Rs 2 crore.

The incumbent title sponsor was handset maker Micromax, which paid Rs 2.2 crore per match (since August 2014). Before Micromax, there was STAR India, October 2013 to July 2014, Rs 2 crore per match.