BCCI announced on Wednesday that mobile payment and e-commerce company One 97 Communications Pvt. Limited, which is the parent organization of the Paytm brand, has retained the title sponsorship rights for all cricket matches, domestic and international, which will be played in India for next five years.
Under this agreement, a total of 326.80 crores will change hands. A time period ranging between 2019 and 2023 will see the exchange of the said amount. The winning bid was 3.80 crore which is at 58% incremental value in comparison to the previous per match value of of 2.4 crores. Back in 2015, Paytm sealed a deal with BCCI seizing the title sponsorship rights of Indian team paying a total sum of 203.28 crores.
The chief executive of BCCI, Rahul Johri said, “I am pleased to announce Paytm as the BCCI home series title sponsor. Paytm is one of the new generation companies of India and we at the BCCI are proud of Paytm continuing its long-standing commitment with Indian Cricket.”
The founder and chief executive of e-commerce payment platform, Vijay Sekhar Sharma commented on the development, “We are excited to continue our long-term association with BCCI and Indian cricket team. Our commitment to Indian cricket gets stronger with every season. India loves cricket and we at Paytm are the biggest fans of it.”
In July, Bengalore-based edu-tech app Byju’s, which is owned by Think and Learn Private Limited, has replaced Oppo India as the official Team India sponsor. The deal period will commence from 5th September, 2019 until 31 March, 2022.