The Board of Control for Cricket in India (BCCI), often described as cricket’s financial powerhouse, continues to outperform market trends and set new benchmarks in sponsorship deals. Even in a slowed-down economic landscape, the BCCI has managed to secure substantial growth in sponsorship across various categories.
Here’s a rundown of how BCCI is defying market odds: BCCI Breaks Market Norms
Market-Leading Growth Despite Slowdown
Despite a challenging market environment, the BCCI remains a magnet for big companies. Even global giants like Disney-Star have refrained from further cricket investments. However, this has not deterred BCCI’s financial prowess. Setting lower base prices across sponsorship categories, the board achieved an impressive 12-15% increase in title sponsorship, BCCI Media Rights, and lead sponsor deals.
Fresh Opportunities with Associate Sponsors
With BCCI releasing tenders for associate sponsors, this trend is poised to continue. The big players who once splurged on the Indian Premier League, including Byju’s, have faced financial setbacks and workforce reductions. Disney-Star, BCCI’s IPL broadcast partner and former media partner, has encountered challenges globally.
Title Sponsorship Triumph
BCCI’s title sponsorship saw significant developments. The board set a base price of just Rs 2.4 Cr per match, compared to Rs 3 Cr in the previous cycle. IDFC First Bank stepped in and paid Rs 4.2 Cr per match, outdoing the market situation and resulting in a substantial increase in per-match fees.
Lead Sponsorship Transformation
Lead sponsorship followed a similar pattern. Byju’s, initially the lead sponsor, opted to exit after Australia’s tour of India. They paid Rs 5.5 Cr per bilateral match and Rs 1.7 Cr for ICC events. Dream11, a previous associate sponsor, took the lead sponsorship for an impressive Rs 358 Cr for three years.
Jersey Sponsorship Shuffle
The jersey sponsorship landscape also experienced changes. BCCI transitioned from Nike to MPL in 2020, only to see MPL exit within two years, transferring rights to KKCL (Kewal Kiran Clothing Limited) until May 2023. Adidas then stepped in as the new jersey sponsor for Rs 250 Cr.
Media Rights Maneuver
BCCI separated TV and digital rights for BCCI Media Rights after a successful IPL media rights deal. The board lowered the base price to just Rs 45 Cr, aiming to stir interest from broadcasters. However, the auction didn’t witness the intense bidding wars seen in the IPL. Ultimately, Reliance-backed Viacom18 secured both TV and digital rights for a combined price of Rs 67.8 Cr per match for 88 games.
A Bright Future Ahead
With the BCCI actively seeking associate sponsors, this trend shows no signs of slowing down. The board recently released a tender for associate sponsors, paving the way for additional revenue streams. ACC, Hyundai, and Dream11 were previous associate sponsors, jointly contributing Rs 222.74 Cr between 2019 and 2023.
The BCCI’s unwavering financial strength and market resilience reaffirm its status as cricket’s Big Bull, consistently outperforming expectations and setting new industry standards.
Read more: BCCI Media Rights Auction- Viacom18 Scores Big: Secures Both TV and Digital Rights
