Media planning company Top of Mind came from behind to earn the sponsorship rights of the Bangladesh national cricket team for the next two years for a whopping cost of Tk 41.41 crore, said BCB officials on Wednesday. Top of Mind outbid cellular operator Grameenphone, who had offered Tk 41 crore in the three-phase bidding process conducted at the Sher-e-Bangla National Stadium.
Six companies submitted their financial proposals for the sponsorship rights with Grameenphone initially quoting Tk30.5 crore against Top of Mind’s Tk30.33 crore.
In the second phase of the intense bidding process, Grameenphone proposed Tk 37.10crore and looked to be far ahead as Top of Mind come up with Tk 35.63 crore.
Top of Mind finally won the bid in the third phase with their increased amount with no provision for further bidding.
‘Top of Mind eventually outbid their rivals in the last phase,’ BCB president Nazmul Hasan told reporters on Wednesday.
‘We are satisfied with the deal though it did not cross our expectations,’ said Nazmul.
‘It was encouraging as a local firm earned the right,’ said Nazmul.
BCB fixed the base price at Tk 30 crore ($3.85 million approximately), for the sponsorship deal that will be effective from the upcoming home series against India.
The BCB had to seek a new sponsor after its 4-year contract with Aamby Valley, an affiliate of Sahara India Parivar, was cut short 15 months before it was scheduled to end earlier this year.
Dispute over several issues, including long outstanding payment, had prompted the BCB to unilaterally cancel the agreement with Sahara.
Top of Mind also had won the team sponsorship rights for the recently concluded series against Pakistan after the BCB had cancelled the agreement with Sahara worth $9.4 million.
-With New Age input