Muthoot Fincorp bags India home season title sponsorship rights

Muthoot Fincorp has acquired the title sponsorship rights for Indian cricket for the next two home seasons, Cricbuzz understands. The title sponsorship, referred to as ‘Blue Muthoot’ according to sources, is understood to have been negotiated at the base price of INR 4.85 crore per match. There are also suggestions that the final price could be lower than the base price, although clarity is expected once the BCCI formally announces the deal. The announcement of the new title sponsor had been delayed by a lack of serious bidders for the rights. Industry sources attributed the lack of interest, in part, to the high base price. IDFC First Bank, the outgoing title sponsors, had been paying INR 4.2 crore per match. Had there been a competitive bidding process, the title sponsor would have been decided on August 13, the deadline specified in the BCCI's Invitation to Tender (ITT).