Struggling to find a new sponsor for the Indian team, the Board of Control for Cricket in India extend its existing contract with Sahara by another six months.
After a meeting of the Marketing Committee, presided over by BCCI president Shashank Manohar, 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 crore 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.
Sahara had signed a four-year-deal in 2006 for Rs 313.80 crore.