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The India National Cricket Team is currently playing a two-match Test series in Sri Lanka. Ahead of the home season, the Board of Control for Cricket in India (BCCI) is planning a new title sponsorship of Indian cricket. The board has already opened the tender for the bidding process for the forthcoming season for the title sponsor.
Currently, for the Men in Blue, IDFC is the title sponsor for the home matches. They had a deal for all international and domestic home cricket matches organized by the board. Their three-year deal from August 2023 covered home Tests, ODIs, T20Is, and domestic tournaments like the Ranji Trophy and is set to end this year.
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New tender for India's title sponsor
As per reports from Cricbuzz, the board had two types: one was that they did not receive any bids, and the other was that the bids they received from the bidders did not meet the expectations of the board, so the title sponsorship of Indian cricket remains open-ended. There are some companies that have shown interest in becoming the title sponsors.
The report suggests that Google Gemini is the artificial intelligence and generative-AI brand that has recently been linked to several sporting domains. Apart from them, Spinny and SBI Life appear to be the other parties who have shown their interest and had a discussion with the board. Fans saw Spinny recently in India’s tour to Ireland.
Why can't the BCCI get new tenders?
The main reason that the board is unable to find the title sponsor is the high base price, at INR 4.85 crore per match, which is approximately 15.5% more than the existing value of INR 4.2 crore that the current rights holder IDFC First Bank is paying the board.
Reportedly, the board is planning to sell the rights for two years (ending March 31, 2028), covering around 35 home internationals, including 10 Tests, 12 ODIs and 13 T20Is.
“For tendering purposes only, and without constituting any representation, warranty, commitment or minimum guarantee by BCCI, BCCI presently expects that it may host approximately 35 (thirty-five) Chargeable Matches during the Rights Period, subject always to the final schedule determined by the BCCI in its sole and absolute discretion,” the BCCI said in its ITT.
How much will the new sponsor pay?
In the previous timeline, IDFC First Bank covered 55 international matches, spending around INR 231 crore. If the new title sponsor accepts the new base price offer from the board, the BCCI will receive around INR 171 crore over a period of two years from the title sponsorship, until they secure a bid higher than the base price.
There have been some companies purchased the ITT for the house, which went for sale on July 20 for INR 1 lakh (non-refundable). The ITT document was acquired by many parties and organizations, including GroupM, ITW, and Sporty Solutions.
The deadline for purchasing the ITT was August 5; the board’s last date of negotiation will be before September 27, when the West Indies visit India.
