BCCI, India, Paytm
Paytm came on board as the title sponsor in 2015. The sponsorship deal was valued at Rs. 203 crore or Rs 2.42 crore per match. @ AFP

Paytm retained the title sponsorship rights for international and domestic matches of the world’s richest cricket body. The BCCI, in a media release on Wednesday, stated that One 97 Communications Pvt. Ltd. (Paytm) have acquired the sponsorship rights for India’s International and Domestic matches.

The winning bid was at a price of INR 326.80 crore which will be paid for 2019-23 home season. The winning bid was INR 3.80 crore which was at a 58 per cent incremental value in comparison to the previous per match value of INR 2.4 crore.

Quite a few companies bought the tenders after the BCCI invited bids through a process mentioned in the Invitation to Tender (ITT) document. The last date to submit the online bidding by uploading the document on the platform was August 19 at 11 pm.

The evaluation of eligibility documents and communication to eligible bidders took place on August 20 and the final announcement was scheduled for August 21.

Paytm pipped quite a few other companies in the race. Chief among them that gave stiff competition was Dream11, which has been hugely investing in cricket.

“I’m pleased to announce Paytm as the BCCI home series title sponsor. Paytm is one of the new generation companies of India and we at the BCCI are proud of Paytm continuing its long-standing commitment with Indian Cricket,” BCCI CEO Rahul Johri was quoted as saying in the release.

Vijay Shekhar Sharma, Founder & CEO, Paytm said: “We are excited to continue our long-term association with BCCI and the Indian Cricket Team. Our commitment to Indian Cricket gets stronger with every season. India loves cricket and we at Paytm are the biggest fans of it.”

Paytm came on board as the title sponsor in 2015. The sponsorship deal was valued at Rs. 203 crore or Rs 2.42 crore per match. Previous title sponsors for BCCI ties include Micromax for 2014-15 (Rs 2.2 crore per match), Star India for 2013-14 (Rs 2 crore per match), and Airtel for 2010-13 (Rs 3.3 crore per match).