IDFC First Bank bags Title Sponsor Rights for BCCI’s home International matches

IDFC First Bank on Friday acquired the Board of Control for Cricket’s title rights for the home international series.

As per a report on Cricbuzz, the deal between IDFC First Bank and the Indian board is until August 2026 and will cover a total of 56 international matches.

The report further suggested that the BCCI will generate nearly Rs 235 crore from the new title sponsorship as IDFC is set to pay Rs 4.2 crore per international match.

The contract will kick-off with the three-match ODI series against Australia ahead of the 2023 ODI World Cup, scheduled to be held in India.

Notably, Sony Sports was also the contender alongside the IDFC First Bank while a bid by an agency representing a corporate entity was rejected due to technical reasons.

After the deal, IDFC First Bank will take over the title sponsor rights from Mastercard, which had an agreement of  Rs 3.8 crore per game.

Earlier in September 2022, the Indian board had announced that Mastercard bagged the 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 and 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 had stated.

Meanwhile, the BCCI also reserves the right to cancel or amend the bidding process at any stage in any manner without providing any reason.

Notably, fantasy gaming platform Dream11 had won the BCCI’s lead sponsor rights reportedly for Rs 358 crore in June this year.

News Desk

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