BCCI Title Sponsorship: Indian cricket fans may soon see a new name emblazoned on the front of the jersey of their favourite cricket teams. The Board of Control for Cricket in India (BCCI) has invited tenders for title sponsorship rights for the men’s, women’s, and age group teams. This move comes after the previous sponsor, Byju’s, ended its deal at the end of the last financial year. Byju’s had signed a $35 million deal with BCCI for branding on the Indian men’s cricket team’s jersey.
These brand categories are ineligible for BCCI title sponsorship: The BCCI has issued a list of brand categories that it considers ineligible for title sponsorship. These include athleisure and sportswear manufacturers, alcohol products, betting, cryptocurrency, real money gaming, tobacco, and anything that hurts sentiments, such as pornography.
Billion dollar revenue categories: The brand categories that BCCI has banned for the title sponsorship of the cricket team have a combined revenue in billions of dollars. Athleisure and sportswear manufacturers have a market size of about $80 billion in India and are growing at an annual rate of 10%. Alcohol products are worth $495 billion and are registering an annual growth rate of 6.53%. Betting has a market size of $1.70 billion and is growing at the rate of 9.77%. Cryptocurrency is worth $2.22 billion and is growing at the rate of 9.83% annually. Real money gaming has a market size of $2.6 billion and is growing at the rate of 28-30% annually. The tobacco industry in India is worth $127.3 billion, and its growth rate is 4.73%.
The BCCI’s move to invite tenders for title sponsorship rights is a significant development. With the banning of several brand categories, it remains to be seen which companies will come forward to sponsor the Indian cricket teams. Fans will eagerly await the announcement of the new sponsor, whose name will soon be printed on the front of the jersey of the Indian cricket team.
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