Paytm Owned Title sponsorship deal of 203.28 crores with BCCI. The Paytm owned title sponsorship deal of 203.28 crores with BCCI for home series up to four years.
Paytm owned title sponsorship deal of 203.28 crores with BCCI :
One97 Communications, owners of Paytm, today acquired the title sponsorship rights for India’s domestic and international cricket matches at home for a period of four years with a bid price of Rs 203.28 crore. The base price per match was Rupees 1.68 crore and the final price comes to Rs 2.42 crore per match. The amount per match is 40 lakh more than what Micromax, who was the only bidders in the 2014-15 season, gave the Board last year. From now onwards, the domestic Ranji competition will be known as the ‘Paytm Ranji Trophy’.
Vijay Shekhar Sharma, the founder & CEO of Paytm said, “Cricket is the dream sport for us in India. We are very happy to become 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.”
Micromax’s bid was not even opened in the bid
“Micromax’s bid was not even opened after they had failed to submit proper documents required for being eligible bidders. So, their bid document was not opened and paytm won the bid unilaterally,” a marketing committee member said.
When asked specifically why Micromax’s bid was cancelled, Marketing Committee chairman Chetan Desai told that, “The bid document specifically mentioned that the bidding should be done by consortium of companies. Micromax said they have a consortium but when they filled the bid documents there was no mention of it. So their bid document was not opened.”
Nike Vs Adidas
Nike’s kit sponsorship deal is ending in December. Adidas have also shown interest in it. Now it will be battle between Nike and Adidas later this year to acquire the deal. The two top most brands are trying to get sponsorship with the Indian team. The two companies know how important the deal. The Paytm will host the title series from South Africa tour to India onwards.