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BCCI signs record deal for Indian team jersey worth Rs 1079 crore
07.03.17 - TEAM PT
BCCI signs   record deal for Indian team jersey worth Rs 1079 crore

Irrespective of the administration tangles that the Board of Control for Cricket in India (BCCI) finds itself as far as the implementation of the Lodha Committee report is concerned, the world’s richest cricket board only got richer on Tuesday.
BCCI) has on Tuesday (March 7 named OPPO Mobiles India Private Limited as the new team sponsor for the Indian Cricket Team as the existing contract with Star India expires in March.
"The Board of Control for Cricket in India (BCCI) is pleased to announce OPPO Mobiles India Private Limited as the new team sponsor for the Indian Cricket Team," said BCCI in a statement released on Tuesday.
Mobile manufacturing company OPPO will replace broadcasting giants Star India as the official sponsor of the Indian cricket team from April 1, winning the bid with a mind-boggling sum of Rs 1,079 crore.

"Oppo put in a record bid of Rs 1,079 crore for five years. This is almost five times the previous bid (Star India’s). The second highest bid was from Vivo which was 768 crore,” BCCI CEO Rahul Johri said at a press conference.
"Both the bids far exceeded the minimum reserve price that was set by BCCI at Rs 538 crore. These bids are testimony to the strength of the Indian cricket. It is testimony to the belief of people in Indian cricket,” said Johri, adding that there were nine bidders in the fray.

"So in simple terms, Rs 4.17 crore per bilateral game and 1.51 crore per ICC game. To give a perspective, the previous highest was 1.71 crore per BCCI game, that has gone up to Rs 4.17 crore (per game),” he said.

"Star India’s sponsorship is till 31st March. Oppo becomes sponsors from April 1. So the first time India wears a Oppo shirt will be from the ICC Champions Trophy (scheduled in England from June 1),” said Johri.

It was clarified that the bid is for all Indian teams, including women’s and juniors. The team sponsor gets its commercial logo on both the men’s and women’s kits.
"Nine companies bought the tender document, but only two companies put in their bids today. The board’s legal arm and auditors evaluated the bids received. It is a five-time increase from the previous rights holder,” said BCCI chief executive Rahul Johri told reporters.

The bidding process took place under Supreme Court- appointed Committee of Adminsitrators (COA). "It was carried out in a very transparent manner and we are very satisfied with the outcome,” said Diana Edulji, who is part of the four-member COA panel.
Earlier last week, Star India decided not to renew the contract with the richest cricket board in the world citing the recent turmoil in the BCCI.

Star India CEO Uday Shankar was quoted by Times of India as saying, "Given all the volatility, we are indeed concerned about the health of cricket in the days ahead. No one seems to be talking about making cricket bigger and more popular. We have been very proud that our name is carried on the jersey of Team India. But given all the uncertainties, we have decided not to bid for it again. The commitments being asked for are too onerous without any clarity."



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