Chinese handset maker OPPO emerged the highest bidder to bag the sponsorship rights of the Indian cricketing team, reports fe Bureau in New Delhi. The bids, which are conducted by the Board of Control for Cricket in India (BCCI), saw OPPO bid R 1,079 crore for a period of five years. It will pay R4.17 crore per bilateral match and R1.51 crore crore for an ICC match.
The other firms to have bid were Vivo Mobile, Star India, Paytm, Hero MotoCorp, WPP-owned media agency GroupM, Zee Group’s English daily DNA, DBS Bank and another WPP Group-owned agency, Encompass.
OPPO will be replacing Star India, the current sponsor, from April 1.
“An association with the Indian cricket team is the biggest partnership for any brand looking the build a strong equity with consumers,” said Rahul Johri, CEO, BCCI.
The second highest bidder was another Chinese handset maker, Vivo Mobiles, which bid R768 crore.
In 2013, Star India had bagged the team sponsorship for all home bilateral and domestic matches of the Indian cricket team. At the time, BCCI had fixed the reserve price at R1.50 crore. Star India paid R1.92 crore for each bilateral match and R61 lakh for every international match.
Prior to Star India, Sahara India was the highest paying sponsor of the team, at R3.34 crore per match.