Friday, 31 July 2015

BCCI sells 4-year title sponsorship rights to Paytm for Rs 203 crore

BCCI has sold the sponsorship rights for international and domestic matches in India to One97 Communications, which runs India’s leading digital goods marketplace Paytm, for Rs 203.28 crore (Rs 2.03 billion) for the period September 2015-October 2019. 
The deal covers 84 matches. Paytm will pay Rs.2.42 crore per match, higher than the minimum bid price of Rs.2 crore per match.
The BCCI had issued invitation to tender (ITT) in June for title sponsorship rights for home series tournaments. The base price for the title sponsorship was Rs 1.68 crore (Rs 16.8 million) per match. 
Anurag Thakur, Secretary BCCI, said,  “With nearly 84 matches scheduled over the next 4 years with all major countries playing in India, we are hopeful that Paytm will be able to build a strong and strategic association with cricket. We are also happy that the realization has increased by 20%. It augurs well for Indian cricket. I am thankful to Paytm for their interest and faith in Indian cricket and welcome them on board,” said Anurag Thakur, secretary, BCCI.
Vijay Shekhar Sharma, Founder and CEO, Paytm, said, “Cricket is the dream sport for us in India. Cricket epitomises the Paytm values of passion, hard work and team effort. We are very happy to partner with the BCCI and cheer for Indian cricket with millions of fans. Over the next 4 years, we will continue to invest strongly in cricket and other sports. As a growing brand which has big plans for a billion strong Indians, there is no better platform than cricket in India.” 
Maxus, with GroupM ESP, has won the sponsorship rights for Paytm. This is the first time a sponsorship deal for the BCCI has been concluded by a media agency. 
Paytm SVP Shankar Nath said, “We are delighted at becoming the title sponsor for all BCCI India cricket for the next 4 years. We firmly believe the partnership with cricket in India will help establish us even more as the dominant mobile commerce company in the country. As a growing brand which has big plans for a billion strong Indians there is no platform better than cricket in India.”
Sourcehttp://cablequest.org/index.php/news/national-news/item/7591-bcci-sells-4-year-title-sponsorship-rights-to-paytm-for-rs-203-crore

Source: http://cablequest.org/index.php/news/national-news/item/7591-bcci-sells-4-year-title-sponsorship-rights-to-paytm-for-rs-203-crore

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