The Board of Control for Cricket in India (BCCI) is currently facing a sponsorship challenge as it struggles to secure a lucrative deal for the Indian cricket team. With the departure of previous sponsors like Byju’s, PayTM, and MPL, the board has reduced the base price for the India Cricket Team sponsorship. This move comes as a response to the market slowdown and the need to attract potential sponsors in a challenging advertising landscape.
Let’s have a look into the details and understand the implications for the BCCI and the Indian cricket team
Pressure on BCCI
- Despite the windfall from IPL Media Rights and the potential BCCI Media Rights deal, the BCCI is feeling the pressure without recent ICC trophies.
- The exit of sponsors like Byju’s and PayTM has added to the challenges faced by the Indian cricket board.
Reduced Base Price
- The BCCI has reduced the base price for the India Cricket Team sponsorship to Rs 350 crore.
- Byju’s, the previous sponsor, paid approximately Rs 287 crore for the last tenure and later extended the deal to 2023 for around $55 million (Rs 450 crore).
Steep Decline in Base Price
- The current base price for bilateral matches featuring India is set at Rs 3 crore per match.
- For ICC and ACC tournaments, the base price is Rs 1 crore per match.
- This marks a significant decline compared to what Byju’s paid, with Rs 5.07 crore per match in India and Rs 1.56 crore per match.
Market Realities
- BCCI’s decision to set a more realistic base price reflects the challenging advertising market and the reduced marketing budgets of new-age sponsors.
- The funding winter and market slowdown have forced sponsors to cut back on their spending, impacting cricket sponsorships.
Sponsorship Tender Details
- The BCCI released the tender for the front jersey sponsorship on June 14, 2023.
- The tender document will be available for purchase until June 26, 2023.
- This presents an opportunity for potential sponsors to secure the coveted position on the Indian cricket team’s jersey.
New Kit Sponsor
- In a separate development, the BCCI recently signed a deal with Adidas as the new kit sponsor.
- Adidas will pay approximately Rs 250 crore for the five-year deal, equivalent to Rs 75 lakh per match.
- Additionally, the BCCI will receive Rs 10 crore per year as royalty on merchandising.
As the BCCI strives to secure a new sponsorship deal for the Indian cricket team, the reduced base price reflects the challenges faced in the advertising landscape. The departure of previous sponsors has necessitated a shift in strategy to attract potential sponsors in a market slowdown. While the base price reduction presents an opportunity for interested sponsors, it also highlights the changing dynamics of cricket sponsorships. As the BCCI looks forward to securing a new sponsor, fans await the announcement of a partner who will proudly adorn the Indian cricket team’s jersey in the coming years.
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