E-Payments major Paytm has won the title rights for the Indian Cricket team for another four-year term, with sources saying that the company has signed a new deal with the Board of Control for Cricket in India (BCCI).
Three other companies have also secured the rights to be associate sponsors for the next four years: fantasy cricket mobile app Dream 11, Hyundai Motors and ACC’s Ambuja Cement brand.
According to sources, Paytm is paying BCCI an attractive Rs 326 crore for the title rights between 2019 and 2023, about 60 per cent rise over the Rs 203-odd crore the firm paid for the title rights for the previous 2015-19 season.
Experts note that in terms of per match fees, Paytm will be shelling out Rs 3.8 crore for the next four years compared to Rs 2.4 crore during the previous period.
“Riding on the digitisation exercise in India, Paytm has opted to keep faith in Indian cricket to retain their brand recall. We are excited to continue our long-term association with BCCI and the Indian team. Our commitment to the Indian Cricket gets stronger with every season. India loves cricket and we at Paytm are the biggest fans of it,” said Vijay Shekhar Sharma, founder and CEO, Paytm.
The BCCI has generally managed to secure lucrative deals for title rights over the past decade, with Airtel’s paying Rs 3.33 crore per match for title rights during the 2010-2013 season, Star India paying Rs 2 crore per match for the 2013-14 period and Micromax shelling out Rs 2.2 crore for the 2014-15 period.
Meanwhile, Hyundai Motor has retained its rights to be an associate sponsor for the next four years, while BCCI has also signed on two new sponsors in Dream 11 and ACC’s Ambuja Cement.