BCCI Sets 350 Crore Base Price For Title Sponsorship Of Team India Jersey: After Ed-Tech major BYJUs decided to terminate their deal with the board at the end of the previous fiscal year, the Board of Control for Cricket in India (BCCI) recently invited bids from interested businesses to acquire the lead sponsorship rights of the National Cricket Team across formats (T20, Test, and ODI).
BYJUs are apparently quitting the market due to a reduction in branding investment. BYJUs paid the BCCI USD 35 million for the most prominent place on the men’s cricket team’s shirt – the front.
The new primary sponsors of the Indian cricket team’s shirt are sure to garner a lot of attention. Especially with the next ODI World Cup in India from October 2023.
The bid paperwork may be obtained for a non-refundable cost of Rs 5 lakh. The deadline for purchasing the same is June 26. The West Indies series begins on July 12. Team India is unlikely to have a front shirt sponsor for the visit.
Adidas was recently signed as the kit sponsor by the BCCI in a deal worth over Rs 250 crore. Adidas will pay Rs 75 lakh every match for the next five years. The BCCI will also get Rs 10 crore per year in royalties from merchandise.
BCCI Kept 350cr As A Base Price For Title Sponsor Of Jersey
According to The Economic Times, the Board of Control for Cricket in India (BCCI) has set a minimum price of Rs 350 crore for lead sponsorship rights of the national cricket team.
Sponsorship of bilateral matches featuring India costs Rs three crore every match, whereas sponsorship of International Cricket Council (ICC) and Asian Cricket Council (ACC) events costs Rs one crore per match.
The base payment is less than what the edtech company Byju’s, which was the major sponsor until March, paid. Byju’s was paying 5.07 crore for domestic matches including Team India and 1.56 crore for ICC and ACC competitions.
Brand Which Are Banned By BCCI
The BCCI has barred some brand categories from competing for Team India sponsorship rights. Real money gambling platforms, betting firms (excluding fantasy sports gaming), alcohol and tobacco goods, sportswear and athleisure manufacturers, and brands connected with inappropriate material such as pornography or public moral outrage are also included on the list.
Oppo, a Chinese electronics manufacturing corporation, was replaced as the Indian cricket team’s principal sponsor in 2019. After winning the jersey sponsorship rights in March 2017 for Rs 1,079 crore, Oppo terminated the BCCI sponsorship contract by relinquishing its rights to Byju’s.
Byju’s spent $35 million to obtain a five-year sponsorship arrangement. Byju’s, which had reduced their branding, left the deal without completing it. With Byju’s withdrawal from the partnership during the Australia series, Rohit Sharma and the company were left without a title sponsor.
As a result, the team was deemed to compete in the WTC Final without any sponsors. BCCI suffered damage as well when PayTM pulled out of the contract and surrendered the rights to MasterCard.