With an incredible price of INR 579 crore, Apollo Tyres won a three-way contest and secured the Indian team’s sponsorship rights. The three-year sponsorship agreement includes 21 ICC matches and 121 bilateral games.
With operations in more than 100 countries, the Gurgaon-based Apollo Tyres manufacturer successfully repelled advances from Canva and JK Cements, who submitted bids of INR 544 crore and INR 477 crore, respectively.
Given the value differential between bilateral and ICC matches, there may be minor variations, but the contract comes to over INR 4.77 crore per game. The Board of Control for Cricket in India (BCCI) established the basic price at INR 1.5 crore for World Cup matches and INR 3.5 crore for bilateral matches, according to Cricbuzz.
Following the cancellation of the Dream11 arrangement due to a government decree that prohibited all real money gambling businesses, the BCCI was forced to issue tenders for a new sponsor. The BCCI was forced to attend the current continental championship in the United Arab Emirates without a shirt sponsor for the Indian team due to a government directive that was issued just before the Asia Cup.
The two-Test home series against the West Indies, which begins on October 2, will be the new sponsors’ first international engagement. This will be followed by an away white-ball series in Australia. However, the three-match 50-over series between Australia and India A will first include the new sponsor’s logo. It is believed that the BCCI advised the selectors to choose the India A one-day team ahead of schedule so that the jerseys would be ready for the September 30, October 2, and October 5 games in Kanpur.
In addition to the businesses that took part in Tuesday’s bidding at the BCCI headquarters in Mumbai, Shank Air, located in Uttar Pradesh, and Omniyat, based in Dubai, also shown interest by acquiring the ITT paperwork. However, they did not attend the auction.
WPP Media, based in Mumbai, is said to have managed Apollo’s successful bid and valuation. The industry had doubts about how the BCCI tender would be received before the bidding. It was predicted that there wouldn’t be many applicants for the sponsorship, especially in light of the government’s decision to outlaw real-money gambling businesses, which are the largest sponsors of Indian games and tournaments. Dream11 had a deal with the board of INR 358 crore, but the BCCI has found a partner prepared to pay INR 200 crore more.
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