BCCI ropes in Dream11, ACC Cement and Hyundai as official partners for the next 4 years

What's the story?

The Board of Control for Cricket in India (BCCI) has signed three official sponsors for the 86 international matches set to take place in India from September 1st, 2019 to March 31st, 2023. Fantasy gaming company Dream11, cement company ACC and one of the previous cycle's official partners Hyundai Motor Company, will pay ₹2.59 crores per match under the new rights cycle.

The background

The home season for Team India is always a huge opportunity for companies to market their business. Recently, online education portal Byju's signed a massive deal with the board to take over the central sponsorship of the Indian jersey from Chinese smartphone company Oppo.

Also, digital wallet company Paytm retained its rights as the title sponsors of the home tournaments two days ago.

The heart of the matter

Last year, the three official partners of the company - PepsiCo, Jana Bank and Hyundai Motor Company used to pay ₹1.5 crores per match. This year, though, the sponsors will pay a significantly higher amount. Hyundai Motor Company was a part of the sponsorship group in the previous cycle as well.

According to The Economic Times, BCCI had disqualified PepsiCo from the bidding process as the company did not submit the expression of interest before the deadline.

Giving details about the deal BCCI said,

“The consolidated winning bids were at a price of ₹222.74 crore to be paid for the 2019-23 home season. The consolidated winning bid was ₹2.59 crore per match, which is at 72% incremental value in comparison to the previous value of ₹1.5 crore.”

What's next?

India's 2019-23 home season will kick off with a visit from South Africa. The Proteas have announced their squads for the upcoming tour while the home side is expected to release their squads after the conclusion of the West Indies tour.

Also see – Dream 11 predictions