E-commerce firm Paytm has secured the title sponsorship rights to India’s home cricket series for the next four years.
Paytm’s agreement with the Board of Control for Cricket in India runs from October’s series against South Africa until September 2019 and is worth Rs203.28 crore (€29.1m/$32.1m) over the four-year cycle.
The annual fee represents a 20 per cent increase on the amount received by the BCCI from Micromax during the 2014-15 season, with the ESPN Cricinfo website reporting that the consumer electronics company was the only other bidder in the tender process alongside Paytm but its offer was deemed invalid due to incorrect documentation.
Paytm’s sponsorship covers a total of 84 matches and is worth Rs2.02 crore per-game. Paytm is a subsidiary of One 97 Communications.
Honorary secretary of the BCCI, Anurag Thakur, said: “Having (Paytm as sponsors) for the next four years gives stability and continuity to Indian cricket. With 84 matches scheduled over the next four years with all major countries playing in India we are hopeful that Paytm will be able to build a strong and strategic association with cricket. We are also happy that the realisation has increased by 20 per cent. It augurs well for Indian cricket.”
Vijay Shekhar Sharma, founder and chief executive of Paytm, added: “Cricket is the dream sport for us in India. Cricket epitomises the Paytm values of passion, hard work and team effort. We are very happy to partner with the BCCI and cheer for Indian cricket with millions of fans. Over the next four years, we will continue to invest strongly in cricket and other sports. As a growing brand which has big plans for a billion strong Indians, there is no better platform than cricket in India.”