BCCI’s search for a new title sponsor has got off to a rocky start. The existing deal with Mastercard ends in September and the new deal will begin with the IND vs AUS series. With not many suitors, the Indian Cricket Board has once again cut down on their lofty price, setting a base price of Rs 2.4 crore. Mastercard, who took over from PayTm, paid Rs 3.8 crore per game.
As in the case of BCCI Media Rights, the Indian Cricket Board were expecting a windfall. Suitors have been sounded out with a release of ITT earlier this week. However, with very little interest, BCCI has tempered their expectations.
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As previously reported, BCCI had earlier reduced their base price to Rs 3 Crore due to a lack of response from corporate houses. The big companies were more interested in IPL (Indian Premier League) than in Indian Bilateral Rights. The last date to purchase the Invitation to Tender document is August 21. The entire process will be finalised by September 15 before the IND vs AUS series.
Unlike the media rights, the BCCI Title Sponsorship agreement runs only for three seasons. The new deal with cover a total of 56 matches, with T20Is more in focus. PayTM came on board in 2015 and paid Rs 2.4 Cr per game. The deal was renewed in 2019 for Rs 3.8 Cr per game. But in September, PayTM requested to end the deal with a year left. BCCI roped in Mastercard for a year.
The reason for the lack of response is due to a lack of further business. An airline company can be Indian cricket’s official carrier or a hotel chain for lodging. Companies tend to get better returns in the IPL with teams and players also endorsing the brand. Indian Cricket Team in that regard has never been involved in promotional activities for their jersey or title sponsor.
“Why would anyone want to replace Mastercard in the current circumstances unless the BCCI is offering something more than just branding? Some engagement with men’s or women’s cricket every few days a year, engagements that can help drive business. Basically, something more than just branding,” Money Control quoted an Industry source.
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