The current round of title rights sales for bilateral cricket at home across formats (2023-26) has been a great success for the Board of Control for Cricket in India (BCCI), with private sector bank IDFC First purchasing the rights for Rs. 369.6 crore for 56 matches. This makes it Rs. 6.6 crore per match, around 2.7 times the base price. An estimate of Rs. 235 crore is to be generated by BCCI in this tenure of IDFC First Bank’s sponsorship.
The BCCI had decreased the base price of the title rights, which were sublicensed from Paytm and paid by Mastercard (2019-2023), from 3.8 crore to 2.4 crore per match in anticipation of poor market interest. According to Inside Sport, there was not much response because of the inflated pricing and the unfavorable market conditions. The Indian Premier League (IPL) was more appealing to large corporations than bilateral rights with India.
In the IPL, businesses typically see higher profits thanks to team and player endorsements. In that regard, the Indian Cricket Team has never taken part in marketing initiatives for their uniform or title sponsor, which was also one of the reasons as to why there would not be prominent market interest.
With the Australia tour of India, which consists of three ODIs, the relationship between the two sides will officially begin the following month. The agreement, which includes 56 international games, is in effect until August 2026.
Eight bids were submitted after 12 businesses first expressed interest, but many of them did not meet the eligibility requirements when the bids were opened on Friday. According to information obtained, a few bids were made above the base amount, with Sony Network’s being the most notable, but none of them came close to matching the winning bid.
Mr. Rajeev Shukla, BCCI Vice-President, said, “The BCCI welcomes IDFC First on board and we are extremely excited to announce our title sponsorship of BCCI’s international and domestic home matches. Cricket is not just a sport; it is a phenomenon that unites millions across the nation. This partnership allows us to contribute to the growth of both cricket and the banking industry.”
Sport Sphere 