In a major setback one of the biggest sponsors of Indian Cricket Team, Star India will not bid for Indian Team Jersey rights that come up for renewal in April this year.
Star India has come up this decision following the ongoing conflicts between BCCI and ICC due to new policies and legal tangles.
Star India is the official team sponsor of Indian Cricket Team since 2013 and its contract is going to end in March last week.
Star won the bid for Rs 1.92 crores (US$315,000 approx ) per match in bilateral series and Rs 61 lakh (US$100,000 approx) per match for ICC sponsored tournaments.
In an exclusive interview to Times of India, Star India chairman and CEO Uday Shankar said “We have been very proud that our name is carried on the jersey of Team India. But given all the uncertainties, we have decided not to bid for it again. The commitments being asked for are too onerous without any clarity.”