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May 31, 2010

Sahara will continue sponsor of Indian team

Sahara to remain sponsor of the Indian cricket team after it outbid Bharti Airtel.

Sahara won by bidding an amount of Rs. 3.34 crores per match, which was higher than Bharti Airtel's 2.89 crores per match bid.

"Sahara India Financial Corporation has been awarded the Indian team Title Sponsorship Rights, for the period 1 July 2010 to 31 December 2013," BCCI Secretary N Srinivasan said in a statement.

"The BCCI will be paid Rs. 3.34 crore per Test/ODI/T20 International during this period," the statement added.

The contract was for 31/2 years, starting from July 1, 2010, which means the Indian team will continue to sport the Sahara India logo till December 31, 2013.

Sahara Group's original contract with the BCCI expired last year. The company spent Rs 400 crore over a 4-year period for team sponsorship. Under the existing contract, Sahara was paying Rs 1.9 crore per Test, Rs 2.08 crore per ODI and and Rs 1.56 crore per Twenty20 International, the BCCI said.

The BCCI had earlier invited bids for the sponsorship in late 2009, but when no parties came forward, Sahara agreed to continue sponsoring the team til June 30 on the existing terms. The old contract will thus finish on June 30, while the new contract will start on July 1 2010.

The BCCI had set a base price of Rs 2.5 crores per match for the three-and-a-half-year period, during which India will be playing between 144 and 167 matches, depending on how far the team progresses in ICC tournaments. Sahara will thus have to shell out between Rs. 481 crores and Rs. 558 crores for the period.

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