Indian multinational tyre manufacturing company Apollo is all set to become the Indian team’s new jersey sponsor, according to a report in The Times of India. They will be paying almost Rs 4.5 crore per game, an increase from the Rs 4 crore that former sponsors Dream11 were contributing.
According to the report, Canva and JK Tyre were the other two bidders who came to the table. Moreover, Birla Optus Paints seemed keen to invest but did not want to take part in a bidding process.
On September 2, BCCI invited bids for the Expression of Interest for the Indian team’s Lead Sponsor Rights and the bidding process took place on Tuesday.
In that announcement, BCCI stated that gaming, betting, crypto and tobacco brands weren’t permitted to take part in the
bidding.
The need to find a new sponsor arose after Dream11 withdrew because of the government’s Promotion and Regulation of Online Gaming Act, which affected the brand and its operations.
The Indian cricket team are playing without a jersey sponsor in the ongoing Asia Cup in Dubai and Abu Dhabi.
“The deal has been signed with Apollo Tyres. We will announce it soon,” a senior BCCI official has been quoted as saying by PTI.
A report in Cricbuzz says that Apollo won the race with a bid of a whopping Rs 579 crore. The sponsorship deal is for three years and covers 121 bilateral matches and 21 International Cricket Council games.
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