Team India's title sponsorship rights for 2019-2023 cycle awarded to Paytm

The Board of Control for Cricket in India(BCCI) announced on Wednesday that Paytm, which is a massively popular Indian e-commerce payment system and digital wallet company, will sponsor the international and domestic matches in India throughout the next four-year cycle. The same company held the rights of all of BCCI's domestic and international fixtures since the year 2015 and now at the end of the first four-year cycle, the board has decided to continue with the partnership.

The winning bid was at a price of ₹ 326.80 crores to be paid for 2019-23 home season. The winning bid was ₹ 3.80 crores per match which is at 58% incremental value in comparison to the previous per match value of ₹2.4 crores. 

Paytm will continue to hold the rights having first bagged them in 2015 with their previous bid being INR. 203.28 Crores.

"I'm pleased to announce Paytm as the BCCI home series title sponsor. Paytm is one of the new generation companies of India and we at the BCCI are proud of Paytm continuing its long-standing commitment with Indian Cricket," Rahul Johri, the BCCI CEO, said according to CricBuzz.

Team India, who are currently touring the West Indies, will start off with their home season when South Africa tour for three T20Is and three Tests from September 15.