Bharti Airtel, title sponsors of India's home international matches, has refused to extend its contract with the Board of Control for Cricket in India (BCCI), says a report in Mumbai Mirror, adding that the telecom giants have had a three-year deal which ended in April this year. The contract was worth Rs 3.3 cr for every international fixture.
Sources within the BCCI have revealed that Airtel was not interested in renewing the arrangement. There was a three-month window for both parties for negotiating an extension but apparently the talks have not materialised.
Meanwhile The Times Of India reports that the BCCI marketing committee headed by Union minister Farooq Abdullah will meet on Thursday to decide on the new title sponsors and will be inviting new tender bid documents from corporate houses who are willing to become series sponsor for India's next round of home fixtures.
Airtel had won the rights as series sponsors for all international and domestic matches played in India from September 1, 2010 to March 31, 2013 for a consideration of Rs 3.33 crore per match.
As existing sponsors, BCCI gave Airtel three months' grace period to renew its contract. With the company opting not to renew its contract, a 23-member BCCI panel under chairmanship of Abdullah will now decide on the modalities of the tender invitation process.
According to reports, Airtel bid for series sponsorship after they lost out on the team's title sponsorship in July 2010. When the bid documents for the team's title sponsorship were opened for the period from July 1, 2010 to December 31, 2013, Sahara India Pariwar bagged the rights for the 42-month window at Rs 3.34 crore per match. Airtel, the other bidder, had quoted Rs 2.89 crore per match.