Saturday , August 19 2017

OPPO Purchases Team India sponsorship contract for Rs 1,079 crore

OPPO can replace broadcasting giants Star India because of the official sponsor of the Indian cricket team from April one.

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Mumbai: Mobile manufacturing company OPPO can replace broadcasting giants Star India because of the official sponsor of the Indian cricket team from April one, winning the bid with an impressive total of Rs 1,079 crore.

“Oppo put in an exceeding record bid of Rs 1,079 crore for 5 years. This is often virtually 5 times the previous bid (Star India’s). The second highest bid was from Vivo that was 768 crore,” BCCI CEO Rahul Johri said at a group discussion.

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“Both the bids so much exceeded the minimum reserve value that was set by BCCI at Rs 538 crore. These bids are a testimony to the strength of the Indian cricket. it’s testimony to the assumption of individuals in Indian cricket,” said Johri, adding that there have been 9 bidders within the fray.

“So in easy terms, Rs 4.17 crore per bilateral game and 1.51 crore per ICC game. To grant a perspective, the previous highest was 1.71 crore per BCCI game, that has gone up to Rs 4.17 crore (per game),” johri stated.

“Star India’s sustenance is until thirty-first March. OPPO becomes sponsors from April one. Therefore the 1st time India wears an OPPO shirt are from the ICC Champions Trophy (scheduled in England from June 1),” said Johri.

It was processed that the bid is for all Indian teams, as well as women’s and juniors. The team sponsor gets its business brand on each the men’s and women’s kits.

Star India had created it clear that it might not ask for a renewal of its support deal that was to finish this month. The corporate had cited variations with the BCCI on the commitments wanted from it because of the reason for its call.

Star India took over because the Indian cricket team’s sponsor in 2013 from Sahara that was declared ineligible by the Indian cricket board.

“This early morning at 12 we opened the tenders. Nine companies had bought the tender – Oppo, Vivo, Star, PayTm, Hero, GroupM, DNA, DBS Bank. Of those 9 firms, Vivo and Oppo were the 2 bidders this morning,” Johri said.

“Lawyers from Amarchand Magaldas evaluated the legal side of the bids and Deloitte was the auditors. Bids of each the parties were found to be eligible,” he stated.

Supreme Court-appointed Committee of Administrators’ member Diana Edulji stated there was plenty of transparency and everything was so as.

“We are pleased with the bid. This is often a positive sign for all of us,” Edulji said.

 

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