BCCI awards title sponsorship rights to IDFC First for Rs 235 crore

According to sources privy to the development, IDFC First will pay Rs 4.2 crore per match, which translates to Rs 235.2 crore for the 56 matches that the Indian cricket team will play during the three-year cycle.

The base price for the title sponsor rights was Rs 2.4 crore per match, which worked out to Rs 134.4 crore for the three-year period.

IDFC First’s per-match fee will be higher than the Rs 3.8 crore per match that MasterCard and Paytm paid during the previous cycle from September 2019 to March 2023.

Apart from IDFC First, Sony Pictures Networks India was the only other bidder. It had bid Rs 2.4 crore per match, which was the base price set by the BCCI for the title sponsorship rights.

Earlier, fantasy sports platform Dream11 had bagged the lead sponsor rights for the Indian cricket team for a base price of Rs 358 crore.In a statement, the BCCI said that the sponsorship and the activations around the title sponsor are aimed at enhancing IDFC First’s connection with cricket lovers across the country and beyond.The title sponsorship will kick off with the 3-match ODI series against Australia, scheduled to begin next month.

The three-year title sponsor rights will kick off in September this year and end in August 2026. The agreement will cover 56 matches, including 15 Tests, 15 ODIs, and 26 T20 internationals.

BCCI president Roger Binny said IDFC First’s commitment and vision resonate with cricket’s spirit. “We look forward to a successful collaboration that benefits the game and its dedicated fans.”

BCCI secretary Jay Shah added that a new chapter begins in Indian cricket as IDFC First takes center stage as the title sponsor for BCCI’s home matches.

IDFC First COO Madhivanan Balakrishnan said that 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.

“We are delighted to be the title sponsor for all international cricket matches played in India and all domestic tournaments for the next 3 years. As a firm believer in the unifying power of sports, this collaboration perfectly aligns with our ambition to connect with Indians across the length and breadth of the country. This partnership is an important milestone in IDFC FIRST Bank’s journey towards creating a world-class bank,” he added.