Paytm to be Title Sponsor of India’s Home Cricket Matches
Paytm, owned by One97 Communications, has been awarded the sponsorship rights for both international and domestic cricket matches in India. The company will be the title sponsor of cricket matches that are played at home for the next four years, until 2019.
The Board of International Cricket Control in India’s marketing committee met for five hours, finally making the decision to accept the Paytm bid price of Rs 203,28 crore. The final amount was worked out on a base price per match of Rs 1.68 crore. The 84 scheduled matches include Tests, T20s, and ODIs.
In the 2014-15 season, the only bidders were Micromax, who paid 40 lakh less per match than Paytm will be paying for the sponsorship rights.
Anurag Thakur, the BCCI Secretary, commented on the sponsorship agreement with Paytm: “They are one of the new generation companies and we are delighted to partner with them. Having them for next four years gives stability and continuity to Indian cricket. With nearly 84 matches scheduled over the next four 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.”
Thakur also commented on the increased size of the sponorship funds: “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.”
The Founder and Chief Executive Officer of Paytm, Vijay Shekhar Sharma, said that “cricket is the dream sport for us in India.” He explained that the sport corresponds well with the company’s passion, team effort, and hard work. He said that his company plans to invest further in both cricket and other sports over the next few years.
Sharma said: “As a growing brand which has big plans for a billion strong Indians, there is no better platform than cricket in India.”