Mastercard replaces Paytm as BCCI’s title sponsor

Mastercard has replaced payments unicorn Paytm as the new title sponsor for cricket matches in India after the later one scrapped its seven-year deal with the Board of Control for Cricket in India (BCCI).

Notably, Paytm has been sponsoring all domestic and international cricket matches held in India but it has requested the BCCI a year early.

Earlier in August 2019, the Indian cricket board had renewed its sponsorship deal with Paytm for another four years for a price of Rs 326.80 crore.

As per reports, despite the development, yhe BCCI will not suffer any financial loss as Mastercard is reportedly going to pay the same amount for the title sponsorship during the remainder of the tenure and the handover would be finalised in a little over a week’s time.

Meanwhile, reports also suggests that edtech company Unacademy and digital brokerage firm Upstox have also decided to end their associate sponsorships with the BCCI.

An Upstox source was quoted by Economic Times as saying, “Upstox has already achieved its business targets from the IPL sponsorships. Its valuation has crossed $3.5 billion and now the brand doesn’t need IPL anymore to reach a new audience.”

The reports further suggested that the new sponsorship deal will be worked out soon and the Mastercard sponsorship deal is likely to come into effect with the limited-overs series between India and Australia in September. Notably, India is slated to host the Aaron Finch-led side for a 3-T20I series at home.

News Desk

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