Paytm wins title rights for Indian cricket team
India’s mobile application ‘Paytm’ (Pay Through Mobile) has bagged the title rights for the Indian Cricket team for another four-year term, with reliable sources adding that the company has penned a new agreement with India’s governing body Board of Control for Cricket in India (BCCI).
Three other companies have also sealed 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.
As per the sources, Paytm is paying BCCI a lucrative Rs 326 crore for the title rights between 2019 and 2023, about 60% rise over the Rs 203-odd crore the firm paid for the title rights for the previous 2015-19 season.
As per the experts, per match fees, Paytm will be shelling out a staggering Rs 3.8 crore for the next four years as 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 bag cash-rich deals for title rights over the past decade, with Airtel’s paying a sum of Rs 3.33 crore per match for title rights during the 2010-2013 season. Star India was paying Rs 2 crore per match for the 2013-14 period and then Micromax shelled out Rs 2.2 crore for the 2014-15 period.
Meanwhile, Hyundai Motor retained its rights to be an associate sponsor for four years, while the Board of Control for Cricket in India has also signed on 2 new sponsors in Dream 11 and ACC’s Ambuja Cement respectively.