The Board of Control for Cricket in India (BCCI) is under pressure. Despite the windfall of cash from IPL Media Rights and a potential windfall from BCCI Media Rights, BCCI is feeling the heat without ICC trophies. With Byju’s and PayTM gone and so does MPL, BCCI is under pressure. The Indian board has reduced the base price for India Cricket Team sponsor to Rs 350 crore. Byju’s paid around Rs 287 Cr for the last tenure. The ed-tech company later extended the deal to 2023, paying around $55 million or Rs 450 Cr.
As per a report in the Economic Times, BCCI has set a base price for bilateral matches featuring India at Rs 3 crore per match. For International Cricket Council (ICC) and Asian Cricket Council (ACC) tournaments go, the base price is Rs 1 crore per match.
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However, it is a steep decline in the base price compared to what Byju’s paid BCCI to secure the sponsorship rights in 2018. Byju’s paid Rs 5.07 Cr per match in India and Rs 1.56 Cr per match. Generally, BCCI always sets base price higher than the last price. However, it is a change in stance considering the market slowdown.
“BCCI has set a realistic base price for the lead sponsor rights. The ad market is tough, and the new-age sponsors who were spending large sums of money on cricket have cut their marketing budgets drastically due to the funding winter,” Economic Times quoted a source as saying.
The Indian board released the tender for front jersey sponsorship on June 14. As of now, the tender document is available for purchase until June 26, 2023.
BCCI recently onboarded Adidas as the kit sponsor for a deal in the region of Rs 250 Crore. Adidas will be paying Rs 75 lakh per match for five years. BCCI will also bag Rs 10 Crore per year as royalty on the merchandising.
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