BCCI’s Title Sponsorship Tender: The Board of Control for Cricket in India (BCCI) is undergoing significant changes in its sponsorship landscape. With Mastercard’s exit as the title sponsor for Team India, the BCCI has released a tender to find a replacement. As the next bilateral series in India approaches, all eyes are on the board’s moves to secure a new sponsor.
Let’s have a look into the developments and implications of Mastercard’s departure and the BCCI’s quest for a fresh title sponsor: BCCI’s Title Sponsorship Tender
Mastercard’s Exit and History
Mastercard took over the title sponsorship from PayTM in September 2022 and fulfilled its obligations until March 2023. However, the payment processing company chose not to renew the deal with BCCI after March, leading to the board’s decision to seek a new sponsor.
Need for a New Sponsor
With the next bilateral series in India scheduled for September, the BCCI aims to secure a new title sponsor swiftly. The title sponsorship rights for various events are up for grabs, and the board is keen on attracting a reputable sponsor to continue supporting Team India.
Challenges in Finding Suitors
The BCCI faced challenges in finding suitors for title sponsorship in the past. Many companies showed more interest in the Indian Premier League (IPL) than bilateral rights. The lack of response from corporate houses prompted the BCCI to reduce the sponsorship price to Rs 3 crore per game.
Tender Details and Process
The BCCI has invited bids from reputed entities for acquiring the Title Sponsor Rights. Interested parties must purchase the Invitation to Tender (ITT) document by paying a non-refundable fee of INR 1,00,000 (Indian Rupees One Lakh Only) plus applicable Goods and Services Tax. The ITT will be available for purchase until August 21, 2023, and the entire process will be finalized by September 15.
Potential Impact on BCCI Revenue
This year could be a period of correction for the BCCI concerning revenue generation. Apart from title sponsorship, jersey and kit sponsorship rights also play a significant role in the board’s income. The recent deal with Dream11 as the jersey sponsor for Team India and Adidas as the kit sponsor reflects the changing landscape in sponsorship deals.
The Journey Ahead
Finding a suitable title sponsor is vital for Team India’s financial stability and growth. As the bidding process unfolds, the BCCI will carefully evaluate the offers to secure a sponsor that not only offers branding opportunities but also contributes to the growth of Indian cricket through meaningful engagements.
Mastercard’s exit as the title sponsor for Team India has initiated a tender process by the BCCI to find a new sponsor. As the board navigates through this crucial phase, it aims to secure a sponsor that can support Team India’s journey and contribute to the growth of cricket in the country. The upcoming months will be significant as the BCCI finalizes the deal with a new title sponsor, paving the way for a new chapter in Indian cricket’s sponsorship landscape.
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