In a significant development for Indian cricket, IDFC First Bank Limited has emerged as the successful bidder for the title sponsorship rights of all Board of Control for Cricket in India (BCCI) international and domestic home matches. The move comes as part of the BCCI’s ongoing efforts to enhance the fan experience and promote the sport across the nation.
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IDFC First acquires title sponsorship rights for all BCCI international and domestic home matches.
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— BCCI (@BCCI) August 25, 2023
A New Era Begins in Indian Cricket
The partnership, which is set to last for three years, will see IDFC First Bank taking centre stage as the title sponsor for a plethora of cricketing events. This includes international matches for both men and women, as well as prestigious domestic tournaments like the Irani Trophy, Duleep Trophy, and Ranji Trophy, not to mention junior cricket matches (Under 19 and Under 23) held in India.
The collaboration is scheduled to commence with the eagerly anticipated 3-match ODI series against Australia, slated to kick off next month. This partnership is poised to usher in an era where IDFC First and the BCCI join forces to create unparalleled experiences for cricket enthusiasts.
A Resonating Commitment to Cricket
Commenting on the exciting development, Mr Roger Binny, President of the BCCI, expressed his delight, stating, “We are pleased to welcome IDFC First as the title sponsor for all our home matches. Their commitment and vision resonate with cricket’s spirit, and we look forward to a successful collaboration that benefits the game and its dedicated fans.”
The Honorary Secretary of the BCCI, Mr. Jay Shah, echoed these sentiments, emphasizing the potential for this partnership to redefine cricket experiences. “Together, we are excited to co-create an unforgettable journey for fans, players, and all stakeholders involved. We have found a partner who shares our passion for excellence and innovation,” Mr. Shah affirmed.
A Boost for Cricket and Banking
Cricket is more than just a sport in India; it is a cultural phenomenon that unites millions of people across the nation. Mr Rajeev Shukla, BCCI Vice-President, highlighted the significance of this partnership, stating, “This partnership allows us to contribute to the growth of both cricket and the banking industry.”
IDFC First Bank, represented by Mr. Madhivanan Balakrishnan, Executive Director, and COO, expressed their enthusiasm for this collaboration. “This partnership between IDFC FIRST Bank and the BCCI brings together two strong brands with a shared commitment to provide exemplary experiences to billions of fans,” he noted. “This partnership is an important milestone in IDFC FIRST Bank’s journey towards creating a world-class bank.”
Financial Aspects and Competitive Bidding
IDFC First Bank secured the title rights for BCCI’s international home series with a bid of Rs 4.2 crore per international game, surpassing the previous value of Rs 3.8 crore. The base price for the bidding was set at Rs 2.4 crore.
The contract, set to span three years, will commence next month and run until August 2026, encompassing a total of 56 international games. The BCCI is expected to generate nearly Rs 235 crore from this title sponsorship deal.
IDFC First Bank outbid competition from Sony Sports, the sports broadcaster, which was venturing into title sponsorship for the first time. The bidding process took place at a prestigious hotel in South Mumbai.
A Thrilling Future for Indian Cricket
As IDFC First Bank takes the helm as the exclusive title sponsor for BCCI’s prestigious events, Indian cricket fans can anticipate a new era of enhanced engagement and unforgettable cricketing moments. This partnership promises to amplify the power of cricket to unite people across borders and elevate the fan experience to new heights.
Indian cricket enthusiasts are eagerly awaiting the commencement of this collaboration with the forthcoming ODI series against Australia, which is set to mark the beginning of a thrilling journey for fans, players, and all stakeholders involved.