The mobile payments solution platform of One 97 Communications Pvt. Ltd, Paytm has signed a new deal with the Board of Control for Cricket in India (BCCI), retaining the title sponsorship rights for all cricket matches, domestic and international, played in India for five years. The deal has been agreed to for an impressive amount of Rs 326.80 crores rupees for 2019-23 season. This comes down to an incremental value of 58 percent over what they paid in the 2015-19 rights cycle Rs 203 crores for four years.
The platform agreed to pay this whopping amount as the Indian cricket now has a dedicated winter window of international cricket at home. As part of the new deal, BCCI will get Rs 3.8 crore per match from the title rights, a decent increment on Rs 2.42 crore which Paytm was paying earlier. The platform said that it is excited to continue the long-term association with BCCI and the Indian Cricket Team
“We are excited to continue our long-term association with BCCI and the Indian Cricket Team. Our commitment to Indian Cricket gets stronger with every season. India loves cricket and we at Paytm are the biggest fans of it,” Vijay Shekhar Sharma, founder and CEO of Paytm said in a statement.
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The Indian cricket team’s home season will start with South Africa tour which starts on September 15. The tour will see the two sides playing three T20s and three Tests.
“I’m pleased to announce Paytm as the BCCI home series title sponsor. Paytm is one of the new generation companies of India and we at the BCCI are proud of Paytm continuing its long-standing commitment with Indian Cricket,” said Rahul Johri, chief executive, BCCI.
This is the second major deal signed by the cricket board in less than a month. In July, Bengaluru-based education and learning app Byju’s, which is owned by Think and Learn Private Limited, had replaced Oppo India as the official Team India sponsor. The deal period will begin from 5 September, 2019 until 31 March, 2022. Oppo had made a winning bid for a five year (2017-22) deal of 4.61 crores per match for a bilateral match.