new sponsor for the Indian cricket team

Struggling to find a new sponsor for the Indian cricket team, the BCCI, on Wednesday, decided to extend its existing contract with Sahara BCCI by another six months.

After a meeting of the Marketing Committee presided over by president Shashank Manohar, BCCI secretary N Srinivasan said the board has decided to extend the team sponsorship contract of Sahara by six months on the existing terms and conditions.

"Before the expiry of the extension period, a fresh tender would be issued, inviting bids for the same," Srinivasan said.

He also announced that the title and ground rights for India's two Twenty20 International matches against Sri Lanka have been awarded to the World Sports Group at Rs. 3.15 crores per match.

With the existing contract coming to an end on December 31 and no other companies coming forward, the BCCI had to extend the contract by another six months by which they plan to rope in a new sponsor.

Sahara had signed a four-year-deal in 2006 for Rs 313.80 crores.