IDFC gets tittle rights for India's home matches for 4.2cr per match
IDFC has secured the title rights for the home international matches organised by the Board of Cricket Control in India
Crickate
IDFC India's first private sector bank, has secured the coveted title rights for the home international series organised by the Board of Cricket Control in India (BCCI). The acquisition has a notable value of Rs 4.2 crore per international game, representing an increase of over 60 lakhs from the previous valuation of Rs 3.6 crore.
The initial base price for the tendering process was Rs 2.4 crore.Recognised as a pillar of the financial industry, IDFC has accomplished a remarkable feat by securing the title rights for the BCCI's home international series. With this accomplishment, the private bank is now in a position to collaborate with the BCCI, making a significant contribution to the cricketing landscape.
The duration of the contract between IDFC and BCCI is three years, beginning the following month and concluding in August 2026. The partnership will be inaugurated with three ODIs against Australia, signifying the beginning of a fruitful relationship. During this time frame, a total of 56 international matches will be broadcast, exhibiting an abundance of cricketing action.
The partnership with IDFC is expected to generate substantial financial benefits for the BCCI. The projected revenue generated from this title sponsorship is anticipated to be close to Rs 1 billion, specifically Rs 987.84 billion. This influx of funds is anticipated to strengthen the BCCI's capacity to promote cricket in the nation.
IDFC's success in acquiring the title rights was the result of a fierce competition with other prominent entities. Sony Sports, a renowned sports broadcaster, made its debut in this domain as a formidable competitor for sponsorship rights. IDFC outbid the competition and was selected as the favoured sponsor for the prestigious title.
Sony Sports was the sole bidder for the title sponsorship during the bidding procedure, with no other parties competing for the rights. An agency representing a corporate entity submitted a proposal, but it was rejected for technical reasons, resulting in a unique trajectory for IDFC's successful bid.
.jpg?updatedAt=1696166383937)
