BCCI sells four-year home series title rights for Rs 203.28 crore

The BCCI has sold the title rights for India's home series for the next four years - from October 2015 to September 2019 - for Rs 203.28 crore (approx US $31.7 million) to ecommerce firm, Paytm, an increase of around 20% compared to last season.

With India set to play 84 home matches in the four-year cycle, Paytm will shell out Rs 2.42 crore per match, more than the 2.02 crore that Micromax bid for in the 2014-15 season. Paytm will also be the title sponsor for all major domestic tournaments.

The rights were awarded after the documents were opened on Thursday by the BCCI marketing committee in the presence of the bidders. ESPNcricinfo understands that Micromax, who had acquired the rights for India's short 2014-15 home season, was the only other bidder besides the winner. However, Micromax's bid was declared invalid since their documentation was found to be incorrect.

As a result, One 97 Communications Pvt Ltd, the parent company of Paytm - a firm that specializes in online payments - was awarded the rights. Vijay Shekhar Sharma, founder and chief executive of Paytm, stated "there is no better platform for than cricket in India" for the brand, while BCCI secretary Anurag Thakur was delighted with valuation.

"We are also happy that the realisation has increased by 20%. It augurs well for Indian cricket. I am thankful to Paytm for their interest and faith in Indian cricket and welcome them on board," Thakur said.

A marketing committee member revealed that the BCCI would have been more than happy if the rights had gone for the same amount as last season. A 20% appreciation for a period spread over the coming four years augurs well for BCCI and its affiliates, with a fillip in income during the rights cycle.

For the last two years, the Indian team did not play frequently at home and the BCCI had floated the rights on an annual basis. While Star India had acquired the rights for 2013-14 at Rs 20 million, Micromax had won the rights for a fee that was 1% higher than Star India's.