Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

N Srinivasan's BCCI grants sponsorship rights to Star, ESPN in cut-price deal

Oct 03 2013, 20:24 IST
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Marketing Committee of the BCCI met in Mumbai to receive the bids made for Title Sponsorship of cricket series in the 2013-14 season. (PTI) Marketing Committee of the BCCI met in Mumbai to receive the bids made for Title Sponsorship of cricket series in the 2013-14 season. (PTI)
SummaryBCCI sponsorship deal with ESPN-Star considerably lower compared to previous one with Indian co.

With just one bidder in fray, the N Srinivasan-led BCCI BCCI today awarded the title sponsorship for all domestic and international tournaments in India for the year 2013-14 to Star Private Ltd. and ESPN Software at the base price of Rs two crore per fixture, almost Rs 1.5 crore less than the previous deal with Airtel.

The new deal was inked at the BCCI 's marketing committee meeting here today and Board secretary Sanjay Patel said they were not disappointed with the reduced price considering the "turmoil in the financial market".

"The Marketing Committee has awarded the Title Sponsorship Rights for all series to be played in India in the 2013-14 season to Star India Pvt. Ltd and ESPN Software India Pvt. Ltd, at a fee of Rs 2 crore per international match," Patel said.

There are two international series scheduled during the period between October, 2013 and March, 2014 -- the seven-match ODI series and a T20 game between India and Australia, followed by two Tests and three ODIs against the West Indies.

"The market situation is such that at one point of time we thought it will be very difficult to get the sponsorship considering the turmoil in the financial market. But we are very happy (with price)," Patel told reporters after the meeting here.

"We are pleased that Star and ESPN Group bid for both the series. That means Australia and West Indies (series) and the deal will be close to Rs 26 crore. Only one bid was there and the minimum bidding price (is what) they have accepted.

"But we are happy they have included the Australia series also though it is starting within two or three days. Under the market situation, we are happy the deal has gone through and the entire series is covered," he said.

Patel dismissed suggestions that the recent spot-fix controversies surrounding the Board's cash-rich IPL had marred its prospects in selling the rights at a better price.

"I don't think negative news has got anything to do with these kind of things. Cricket is going on well. Our teams are doing good. It is not attributed to any image (of the Board). According to us there is no question of a bad image."

Asked if the Board had decided to include the home series against West Indies to make up for the revenue, the BCCI Secretary said

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