The Indian mobile and financial services company, Paytm has reportedly asked the Board of Control for Cricket in India (BCCI) to assign its home cricket sponsorship rights to the American multi-national company, Mastercard.
The ongoing association between Paytm and BCCI was inked in September 2019 and will go till March 2023. Payment made the winning bid at INR 326.80 crore for the home season.
The timeline for requesting the reassignment of the sponsorship has been missed by Paytm.
The BCCI is likely to accept Paytm’s proposal as the two entities have had a long-term fruitful collaboration.
A source close to the BCCI, said, “Paytm has requested the BCCI for reassignment and the board is considering it.”
The initial cooperation between the two parties was etched in 2015 for a duration of four years.
The Indian company had replaced Micromax after a successful bid of INR 2.42 crore per match in October 2015. The partnership was then later extended in 2019.
If things go ahead as planned, the home title sponsorship rights will be a magnificent addition to Mastercard’s portfolio. The American financial services corporation has teamed up with global sports teams and leagues in the past – Saudi Esports Federation, Inter Milan, Copa America, UEFA Champions League, Olympique Lyonnais Women’s football team, and many more.