The race for the Board of Control for Cricket’s title rights race is over as IDFC First Bank has acquired it for the home international series. The BCCI announced on Friday that, IDFC First Bank Limited turned out to be the successful bidder with respect to the ITT process (subject to definitive documentation and other formalities being completed).
“During this association, IDFC First will be the Title Sponsor for all international matches (both women and men), domestic cricket matches like Irani Trophy, Duleep Trophy, and Ranji Trophy organized by the BCCI as also all junior cricket (Under 19 and Under 23) matches, held in India,” the BCCI stated.
The contract will begin with the three-match ODI series against Australia ahead of the ODI World Cup.
According to a report on Cricbuzz the agreement between IDFC First Bank and BCCI is until August 2026 as it will cover a total of 56 international games. The report further suggested that the BCCI will generate nearly Rs 235 crore from the new title sponsorship as IDFC will pay Rs 4.2 crore per international game.
The report stated that Sony Sports was also the contender alongside the IDFC First Bank. Meanwhile, a bid by an agency representing a corporate entity was rejected due to technical reasons.
BCCI president Roger Binny shared his views on the big association and said: “We are pleased to welcome IDFC First as the title sponsor for all our home matches. Their commitment and vision resonate with cricket’s spirit, and we look forward to a successful collaboration that benefits the game and its dedicated fans.”
Jay Shah, Honorary Secretary, BCCI said: “A new chapter begins in India cricket as IDFC First takes the centre stage as the title sponsor for BCCI’s home matches. Together, we are excited to co-create an unforgettable journey for fans, players, and all stakeholders involved. We have found a partner who shares our passion for excellence and innovation. With their support as the title sponsor, we are set to redefine cricket experiences and further enhance the growth of our great game.”
IDFC First Bank will take over the title sponsor rights from Mastercard, which had an agreement of Rs 3.8 crore per game. In September last year, BCCI announced that Mastercard acquired title sponsorship rights for all BCCI international and domestic matches.
The BCCI invited bids from reputed entities for acquiring the media rights for the international and domestic matches on August 2.
The cricket board shared the details of the tender process regarding the non-refundable fee and the ITT documents.
“The detailed terms and conditions governing the tender process including eligibility requirements, process for submissions of bids, rights and obligations, etc. are contained in the ‘Invitation to Tender’ (“ITT”) which will be made available on receipt of payment of a non-refundable fee of INR 15,00,000 (Indian Rupees Fifteen Lakh Only) plus any applicable Goods and Services Tax. The procedure to procure the ITT documents is enlisted in Annexure A to this notice. The ITT will be available for purchase till August 25, 2023,” the BCCI stated.
Comments
0 comment