Beverage maker PepsiCo's four-year on-ground cricket sponsorship deal for domestic and international matches played at home is estimated to be Rs 30-35 crore (rs 300-350 million), according to persons.
E-commerce firm Paytm had paid Rs 203 crore (Rs 2.03 billion) in July last year for title sponsorship rights of similar matches, also for a period of four years.
The value of the on-ground rights have been assumed at one-sixth of the value of the title sponsorship rights owing to its limited nature.
This is the first time the Board of Control for Cricket in India (BCCI) has hived off on-ground sponsorship rights from title sponsorship. Till now, title sponsors would advertise on-ground as well, at least for home matches. That clearly will no longer be the case.
Second, it is assumed the beverage company will pick up the pouring rights during the drinks break.
Clearly, the deal was thrashed out after several rounds of negotiations keeping all interests in mind, persons in the know said. "BCCI was able to monetise a property, while PepsiCo gets back into the game," a BCCI official said.
"The ball was set rolling the moment PepsiCo approached the board last month. They made presentations to board officials, following which the deal was finalised last week," the BCCI executive said.
An announcement about PepsiCo's association is expected to be made in the next few weeks. An email sent to PepsiCo got no response till the time of going to press. Anurag Thakur, BCCI's secretary, was not available for comment.
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