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's Chief Executive Officer 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 Indian cricket," said Johri. 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 March 31. Oppo becomes the sponsor from April 1. So the first time India wears a Oppo shirt will be at the ICC Champions Trophy (scheduled in England from June 1)," said Johri.
The team sponsor gets its commercial logo on both the men's and women's kits.
Star India had made it clear that it would not seek a renewal of its sponsorship deal, which was to end this month. The company had cited differences with the BCCI on the commitments sought from it as the reason for its decision.
Star India took over as the Indian cricket team's sponsor in 2013 from Sahara, which was declared ineligible by the board.
Supreme Court-appointed Committee of Administrators' member Diana Edulji said the bids were transparent. "We are happy with the bid. This is a positive sign for all of us," Edulji said.
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