Sports

BCCI grows richer with new Paytm deal

Reuters | Updated on August 21, 2019 Published on August 21, 2019

Digital payments firm has retained the title sponsorship rights and to pay the cricket board ₹327 crore for the 2019-23 period.

The Board of Control for Cricket in India (BCCI) said on Wednesday it will earn 58 per cent 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 New Zealand 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 ₹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 ₹3.8 crore (about $532,000) for every match compared to ₹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.”

Published on August 21, 2019
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