In an open bid held by & #BANNER1 & # the Board of Cricket Control for India (BCCI), Sahara India has retained the sponsorship for the Indian cricket team.
Percept d'Mark, the sports management division of Percept Holding, swung the deal on behalf of the Sahara Group.
Confirming this development to agencyfaqs!, Shailendra Singh, joint managing director, Percept Holdings, says, "We are excited that Sahara India has retained the sponsorship of the Indian cricket team. The current winning performances of the team have made this development even more exciting for Sahara."
"It was a very transparent deal and there was a close contest between the Sahara Group and Idea Cellular," says Singh.
According to Singh, Idea Cellular had bid Rs 279 crore for the four-year contract; Sahara won it by bidding Rs 300 crore.
As per the deal, the Sahara logo will now be displayed on the leading arm of the players' shirts.
Singh said the other companies who had participated in the bidding process included Reliance Infocomm, Airtel, Indian Oil and Hero Honda.
For the record, last week, the BCCI had invited fresh bids for sponsors and official kit suppliers for the national cricket team.
Potential corporate sponsors were asked to submit their tenders by December 19.
© 2005 agencyfaqs!