IDFC First Bank has successfully secured the title sponsorship deal for both home international and domestic matches of the Board of Control for Cricket in India (BCCI), surpassing Sony Sports in the bidding process. The bank has emerged as the new title sponsor by offering a substantial amount of Rs 4.2 Crore for each match.
The bidding procedure occurred on Friday in Mumbai. With the finalization of the arrangement, the next India against Australia ODI series commencing on September 22 will have the title sponsorship of IDFC First Bank.
“We are pleased to welcome IDFC First as the title sponsor for all our home matches. Their commitment and vision resonate with cricket’s spirit, and we look forward to a successful collaboration that benefits the game and its dedicated fans,” BCCI President Roger Binny said in a media release.
Starting from September 1, the deal between BCCI and IDFC First Bank is planned for a period of three years. This cooperation includes a total of 56 international matches to be held in India. According to a report on Cricbuzz, the arrangement is likely to result in an income of Rs 987.84 Crores for the Indian board throughout the course of the following three years.
“This partnership between IDFC FIRST Bank and the BCCI brings together two strong brands with a shared commitment to provide exemplary experiences to billions of fans. We are delighted to be the Title Sponsor for all international cricket matches played in India and all domestic tournaments, for the next 3 years. This partnership is an important milestone in IDFC FIRST Bank’s journey towards creating a world-class bank,” Madhivanan Balakrishnan, ED & COO, IDFC FIRST Bank said.
PayTM joined the bandwagon in 2015 and paid a hefty Rs 2.4 Crore for each game. In 2019, PayTM updated the agreement by boosting the stakes to Rs 3.8 Crore each game. But in September, PayTM said it wanted to end the alliance a year sooner than planned. In order to fill the void, BCCI brought Mastercard for a one-year contract.
