Apollo Tyres has been awarded as the lead sponsorship rights for India’s cricket teams on Tuesday. The India team jerseys – men and women, senior and junior – will thus sport its logo for the next two and a half years.
The Board of Control for Cricket in India (BCCI) opened the bid documents in the presence of all the interested bidders. While the BCCI officially has not disclosed the valuation of the deal, The Hindu understands that Apollo Tyres placed the highest bid of ₹579 crore among the three valid bidders.
It is also confirmed that the new deal will be in effect since the Women’s ODI World Cup, starting September 30. The other two interested companies were Canva (Rs. 544 crore) and JK Tyres (Rs. 477 crore). The base price set by the BCCI was ₹3.5 crore and ₹1.5 crore for each match in bilateral and ICC tournaments, respectively. The winning bid was for ₹4.5 crore (bilateral) and ₹1.72 crore (ICC event) per match.
“The new partnership, secured after a rigorous bidding process, represents a substantial increase in sponsorship value, signifying the immense and growing commercial appeal of Indian cricket,” the BCCI said in a statement.
The BCCI was forced to float a tender following Dream 11’s withdrawal. The fantasy gaming platform pulled out of the sponsorship deal after the Online Gaming Bill banned real money gaming through fantasy games.
