BCCI cuts base price of title sponsor rights to Rs 2.4 crore per match
.webp)
The Board of Control for Cricket in India (BCCI) has decreased the base price of title sponsor rights for international cricket matches played in the country to Rs 2.4 crore per match from the Rs 3.8 crore that sponsors had paid in the last cycle, according to a report by The Economic Times (ET). Paytm and MasterCard paid Rs 3.8 crore per match for the international matches played in the country between 2019 and 2023.
This is the second time BCCI has slashed the base price of the title sponsor rights amid weak demand for expensive cricket properties and tepid response from new-age firms. These new-age firms are cutting their budget because of the funding winter.
The period covering the title sponsor rights will kick off in September and end in August 2026. This period will cover 56 matches, including 15 Tests, 15 ODIs and 26 T20 internationals. The overall base price for the three-year title sponsor rights is around Rs 134.4 crore. The tender for the title sponsor rights was issued on August 1. It will be available until August 21.
The cricket body has also set the base price for digital rights of the matches higher than that for TV. It also cut the overall base price to Rs 45 crore per match for the upcoming media rights cycle from the Rs 61 crore per match that Disney Star paid in the previous cycle.
MasterCard had replaced Paytm as the title sponsor, acquiring the rights in 2019.
The cricket body had cut the base price for the official lead sponsor rights to Rs 3 crore per match from Rs 5.07 crore per match that Byju's was paying for home matches played by Team India.
IPG Mediabrands India CEO Shashi Sinha was quoted as saying by ET that the new-age companies, which had spent a lot of money sponsoring cricket matches, are under pressure. Companies which seek top-of-mind recall and want to establish credibility might come on board.
Other Latest News
.webp)
After Haryana, the BJP would also sweep the upcoming assembly elections in Maharashtra and Jharkhand, BJP president J P Nadda asserted on Friday.
Nadda, who paid obeisance at the Shri Naina Devi temple here, said the people were happy with the performance of the BJP government at the Centre led by Prime Minister Narendra Modi.
.webp)
Noel Tata, half-brother of the late Ratan Tata, has been unanimously elected as the chairman of Tata Trusts following the passing of the legendary industrialist Ratan Tata, CNBC-TV18 reported on Friday. Noel Tata is already a key trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust. He will now lead the trusts that hold a controlling stake in Tata Sons, the primary holding company of the Tata Group.
The move has long been anticipated, given Noel Tata’s close involvement with Tata Trusts and his extensive experience within the conglomerate.
.webp)
After the Haryana poll debacle, Congress MP and LoP Rahul Gandhi attended the review meeting called by party president Mallikarjun Kharge at his residence in Delhi. Among those present were the party's Haryana observers Ashok Gehlot, Ajay Maken, Deepak Babaria and KC Venugopal.
Sources said that the Congress MP remained largely quite, but when his turn came, he observed two things; one being that Electronic Voting Machines (EVM) and the Election Commission of India (EC) "have much to answer" and another was that "the local leaders were more interested in their own progress than that of the party", leaving a loud silence in the room.
.webp)
Former US President Donald Trump, who is campaigning for another term in the White House, promised to introduce a system of "reciprocal tariffs" if re-elected. In an economic policy speech in Detroit on Thursday, the Republican candidate singled out India, claiming it imposes some of the highest tariffs on foreign goods among major global economies.
This is not the first time Trump has criticised India for its tariffs. Just last month, he called the nation a "big abuser" of US trade relations.
.webp)
Tamil Nadu Chief Minister M K Stalin has announced a bonus and ex-gratia for 2.75 lakh employees of state public sector undertakings and statutory boards for the 2023-24 fiscal.
Accordingly, all eligible workers of profit making PSUs under group C and D will be paid a minimum bonus of Rs 8,400 and a maximum of Rs 16,800, amounting to 8.33 per cent bonus and an ex-gratia of 11.67 per cent, an official release here said.
.webp)
.webp)
.webp)
.webp)
.webp)
