BCCI Excludes Crypto Companies from Title Sponsor Rights Bidding

The Board of Control for Cricket in India (BCCI) has released its Invitation to Tender (ITT) for title sponsor rights for BCCI events, excluding crypto and Web3 companies from bidding. The tender document specifies that interested entities must have an average audited annual turnover of at least Rs 100 crore over the previous three years or a net worth of at least Rs 100 crore during the same period.

The BCCI has also introduced a 'fit and proper' test for bidders, considering factors like criminal convictions and reputation. The tender document carries a non-refundable fee of Rs 1 lakh, excluding applicable Goods and Services Tax (GST), which amounts to Rs 1.18 lakh for Indian entities and $1,050 for foreign entities.

The BCCI's stance on crypto companies comes as no surprise, given its previous ban on Team India sponsorship in its previous Invitation of Expression of Interest (IEOI). The new ITT extends this restriction to the wider basket of BCCI events. Gautam Gambhir, the head coach of the Indian men's cricket team, has been serving as the brand ambassador for CoinDCX, a role he took on in November 2024 and has actively promoted on social media since.

The BCCI's decision raises questions about internal consistency within the governing body. The board treats Virtual Digital Assets (VDAs) as unfit to be associated with Indian cricket at all, yet Gambhir's endorsement of CoinDCX sits awkwardly beside this stance.