BCCI nets cool Rs 173 cr from ground sponsorship

BCCI managed to sell the ground sponsorship rights and title naming rights for a total of 55 matches to be played in India till March 2010 to Singapore-based sports marketing firm World Sports Group (WSG) for a whopping Rs 173.2 crore. The amount is three times higher than the price at which the rights were sold last time. The previous rights were sold in the range of Rs 1 crore to Rs 1.5 crore per match, which expired in 2006.

WSG, which is part of the Global Cricket Corporation based in Hong Kong, London and Singapore, was in the race along with three other competing consortiums led by Nimbus, Percept and 21st Century Media (which was disqualified for not submitting necessary documents). The winning bid was a little over BCCI’s asking price of Rs 3 crore per match.

“The record deal just demonstrates the fact that cricket is still the leading medium for an advertiser. It translated into a 300% increase in revenue, and we are glad to bring on board a new member into the BCCI family.

The fact that newer companies and clients are getting into cricket just further endorses BCCI as the premier group for cricket management,” Lalit Modi, vice-president and marketing committee head, BCCI, said.

BCCI is still negotiating with advertisers for the Twenty20 international tournaments to be played in India. These matches are slated to debut in March 2008.

Venu Nair, CEO of WSG, told ET that the value of the deal would work out to $50 million over the three-year period between 2007 and 2010. “That is the kind of exposure we are expecting from this deal,” he said.

While declining to divulge names of advertisers who bid through the WSG consortium, Mr Nair said: “We have three-four advertisers on board, and the contracts are in the process of being signed.”

Commenting on the deal, Seamus O’Brien, chairman, WSG, said: “Cricket in India delivers outstanding value. We plan to have long-term partnerships with our clients, and we will service them as partners of the BCCI.”

Elaborating on the BCCI deal, Mr Nair said: “There is a significant difference between the ground rights of the BCCI and the ICC. The former guarantees India’s presence in every single match; and this in turn helps consistently deliver returns on investment.”

ICC, in the meantime, has sealed its global sponsorship deal for the next eight years with Reliance and Pepsi for $60-80 million. Nokia and UAE-based real estate major Emaar MGF have signed on for the ICC debut Twenty20 series for $5-6 million.

Related Post
Nimbus & Co to bid for BCCI ground rights
RCom, others in race for BCCI sponsorship
Orkut fakes turn to Sachins and Souravs
Cricket can learn ‘packaging’ from Chak De!
Idea in race for ICC sponsorship