Business

Paytm bags title sponsorship for BCCI matches, cricket body grows richer with new deal

Updated : August 21, 2019 05:03 PM IST

India's cricket board (BCCI) said on Wednesday it will earn 58 percent more per match for the next four years as Paytm retained the title sponsorship rights for international and domestic matches, underlining the game's undiminished popularity in the country.

Cricketers are the highest profile athletes and enjoy rockstar status in the world's second most populous country and Paytm's bid showed the semi-final defeat to NewZealand in the recent 50-over World Cup has not dented the sport's popularity.

Digital payments company Paytm, owned by One 97 Communications, will pay Rs 327 crore ($45.78 million) for the 2019-23 period to the BCCI, which is the richest national cricket board in the world.

The winning bid was Rs 3.8 crore (about $532,000) for every match compared to Rs 2.4 crore that Paytm paid in 2015 to win the rights then.

"We are excited to continue our long-term association with BCCI and the Indian Cricket Team," Paytm Chief Executive Vijay Shekhar Sharma said in a statement.

"Our commitment to Indian Cricket gets stronger with every season. India loves cricket and we at Paytm are the biggest fans of it."

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