IDFC First Bank: BCCI IDFC Title Rights Deal IDFC Acquires Sponsorship For BCCI Home International Matches | will replace Mastercard; Deal will last till August 2026. Private sector bank IDFC has acquired the title rights of domestic international matches of the Board of Control for Cricket in India (BCCI).
IDFC First Bank Acquires Title Rights
The Indian private sector bank, IDFC, also recognized as Infrastructure Development Finance Company, has bagged the title rights to the home international series of the Board of Control for Cricket in India (BCCI) for three years, according to Cricbuzz.
BCCI was INR 2.4 crore.
IDFC has reportedly bought the rights for INR 4.2 crore per international fixture, which is a 40-lakh hike from the previous price of INR 3.8 crore. The base price for securing the rights set by the BCCI was INR 2.4 crore.
The association between the two parties involved will kick off next month with the Australia tour of India, which consists of three ODIs. The arrangement is valid till August 2026 and includes 56 international fixtures.
In the bidding process, IDFC managed to outbid the sports broadcasting baron, Sony Sports, which was planning to enter into the title sponsorship arena for the first time.
PayTM came on board in 2015 and paid Rs 2.4 Cr per game. The deal was renewed in 2019 for Rs 3.8 Cr per game. But in September, PayTM requested to end the deal with a year left. BCCI roped in Mastercard for a year.
BCCI and IDFC First Bank will be for three years
The contract between BCCI and IDFC First Bank will be for three years starting on September 1. The agreement will include 56 international matches in India. As per a Cricbuzz report, the Indian board will generate Rs 987.84 Cr in revenue with the deal over the next three years.
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The reason for the lack of response is due to a lack of further business. An airline company can be Indian cricket’s official carrier or a hotel chain for lodging. Companies tend to get better returns in the IPL with teams and players also endorsing the brand. Indian Cricket Team in that regard has never been involved in promotional activities for their jersey or title sponsor.