Paytm is set to terminate its seven-year-long association with the Board of Control for Cricket in India (BCCI). According to reports, global payments & technology company Mastercard is going to take over the title sponsorship of all the domestic and international fixtures organized by the BCCI.As reported by Economic Times, Paytm had withdrawn its name from the title sponsorship by requesting early termination of its contract with BCCI.
The contract, which was supposed to run until 2023 will end prematurely, with Mastercard swooping in to take over the reins from Paytm for at least the remainder of the tenure. The titular sponsorship will be priced at the same rate for Mastercard that it was for Paytm, and the handover is set to be finalized in the next five to ten days.Paytm had signed a contract with the apex board for 2015 – 2019, a deal which cost the digital payment giants Rs. 2.4 crore per match. In, August 2019, Paytm renewed its contract with the BCCI for another four years in a deal worth Rs 326.80 crore, or Rs. 3.80 crores per match.
