The Board of Control for Cricket in India (BCCI) is facing a challenging task in securing a new title sponsor for their upcoming events. With the existing deal with Mastercard set to end in September, BCCI has been searching for a replacement. However, the lack of interest from potential suitors has forced the board to reduce the base price once again, creating uncertainties in their quest for a new partner.
Here’s a breakdown of the situation: BCCI Reduces Title Sponsorship Base Price
Current Title Sponsorship Deal
The current title sponsorship deal with Mastercard is coming to an end in September. The new deal is scheduled to begin with the upcoming IND vs AUS series.
Reduced Base Price
Due to a lack of suitors and interest, BCCI has cut down the lofty base price to Rs 2.4 crore, a reduction from the earlier price of Rs 3 crore.
Past Sponsorship Agreements
In the past, PayTM served as the title sponsor and paid Rs 2.4 crore per game in 2015. The deal was later renewed in 2019 for Rs 3.8 crore per game. However, PayTM requested to end the deal prematurely, leading to the inclusion of Mastercard as a temporary replacement.
Lack of Suitors’ Response
The search for a new title sponsor has been met with limited response from corporate houses. Companies seem to be more interested in associating with the Indian Premier League (IPL) and its teams, which offer better returns on investment.
Need for Value-Added Engagement
Potential sponsors seem hesitant to replace Mastercard unless BCCI offers additional value beyond branding. Companies seek engagement opportunities with men’s and women’s cricket events to drive business and leverage the partnership effectively.
Shorter Sponsorship Period
Unlike media rights agreements, the title sponsorship deal is limited to three seasons, covering a total of 56 matches, with a focus on T20Is.
Deadline and Finalization
The deadline to purchase the Invitation to Tender (ITT) document is set for August 21. The entire process is expected to be finalized by September 15 before the start of the IND vs AUS series.
BCCI’s efforts to secure a new title sponsor have hit roadblocks, with companies seeking enhanced engagement opportunities and return on investment. While IPL remains a more attractive prospect for potential sponsors, BCCI faces the challenge of providing meaningful partnerships to entice interested parties. As the search continues, BCCI must find innovative ways to collaborate with sponsors and boost the allure of being the title sponsor for Indian cricket events. Only time will tell if they can strike a lucrative deal and secure a prominent partner to represent Indian cricket in the seasons ahead.
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