We examine the BCCI sponsorship rights contract details and its cost which will allow IDFC First Pay to act as the title sponsor for all upcoming bilateral games inside India during the period of 2023-26
With IDFC First, the Indian team now has a new title sponsor for its home games. The Infrastructure Development Finance Company has agreed to serve as the official title sponsor of all of India’s domestic international cricket matches, paying a staggering INR 4.2 crore every match for the privilege.
BCCI and IDFC First pay sponsorship rights contract deal details and sponsor cost from 2023-2026
🚨 NEWS 🚨
IDFC First acquires title sponsorship rights for all BCCI international and domestic home matches.
Details 🔽
— BCCI (@BCCI) August 25, 2023
What is the meaning of this contract between IDFC First and BCCI?
IDFC First will serve as the title sponsor for all international games, domestic cricket tournaments like the Irani Trophy, Duleep Trophy, and Ranji Trophy organized by the BCCI, as well as all junior cricket matches played in India during the course of this partnership. To strengthen IDFC First’s connection with cricket fans across the nation and abroad, this sponsorship and the activations surrounding the Title Sponsor are intended.
With this partnership, BCCI and IDFC First will work together to offer cricket fans engagement opportunities and experiences that are unrivalled. Beginning next month, a three-match ODI series against Australia will serve as the official launch of the partnership.
How much will IDFC First pay after winning this bid?
On 25th August, it was confirmed that private sector bank IDFC First purchased the rights to serve as the title sponsor for bilateral cricket tournaments in India across all formats. Notably, the bid for this was made public on August 1 by BCCI and base price of INR 2.4 crore was established. Considering the financial burden involved, there were just two bidders including Sony Sports India Private Limited and IDFC Bank. Ultimately, IDFC First won the title rights following their bid of INR 369.6 Crore for 56 matches.
It is predicted that this will result in revenue of INR 987.84 Crores for BCCI and in comparison to the previous cycle, this represents an increase of INR 60 Lakhs per match. Paytm purchased the rights in 2015 for INR 2.4 Crore each match and later in 2019, the contract was revised with an increase of INR 1.4 Crore per match. Unfortunately, this contract was terminated in the previous year.