Indian Cricket Board Signs New Deal With Paytm
FILE PHOTO: Digital payments company Paytm (Photo: MONEY SHARMA/AFP/Getty Images).
INDIA’S cricket board (BCCI) said on Wednesday (21) 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 Rs 3.27 billion ($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 38m for every match compared to Rs 24m 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.”