IDFC Secures BCCI Home Series Title Sponsorship Rights For Nearly Rs 1000 Crore
IDFC Bank has bagged the sponsorship rights [Twitter]
The Board of Control for Cricket in India (BCCI), which is also the world's richest cricket board, has announced IDFC (Infrastructure Development Finance Company) as the new title sponsor for its home international series in a lucrative deal worth Rs. 987.84 crore.
IDFC bagged Indian team's title rights for a whopping Rs. 987.84 crore
IDFC's successful bid of Rs. 4.2 crore per game marked a significant upsurge from the previous rate of Rs. 3.6 crore which highlights the increasing valuation of Indian cricket's brand equity.
With a base price for bidding set at Rs. 2.4 crore, IDFC's massive bid proves their keen intent to associate with the sport that is so popular across the country.
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Scheduled to commence next month with a series of three One Day Internationals (ODIs) against Australia, the BCCI-IDFC partnership will span a period of three years, ending in August 2026. During this tenure, a total of 56 international fixtures will be played, guaranteeing high visibility for the bank in what promises to be an exciting phase for Indian cricket.
Sony Sports Network had also stepped into the fray as they explored the title sponsorship landscape for the first time. However, they fell short of outbidding IDFC.
Notably, another bid from an agency representing a corporate entity was dismissed on technical grounds, as reported by Cricbuzz. The move comes on the back of BCCI's recent announcement detailing the India team’s schedule for the 2023-24 home season, which includes 5 Tests, 3 ODIs, and 8 T20Is.
While Indian cricket is set to feature in premier events such as the Asia Cup 2023 and World Cup 2023, it's worth noting that these tournaments are not under BCCI's purview.
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