The Mumbai Cricket Association is currently in talks with three firms over a proposed sale of naming rights for the Wankhede Stadium situated in the city.
The MCA’s managing committee was presented with proposals from three firms, namely IMG-Reliance, DDB Mudra and Baseline, concerning a change in name for the iconic cricket stadium in South Mumbai.
“The agencies have made their proposals for the sale of naming rights of the stadium,” confirmed MCA secretary PV Shetty. “The stadium’s original name will be retained while the sponsor’s name will be added as a prefix or suffix. The discussions are in the initial stages and nothing has been finalised.”
Another meeting will be held among the MCA members in the coming week with an aim to finalise the agreement within ten days. “Through the deal, the MCA is expecting a sum to the tune of Rs 100 crore over the course of five years,” Shetty said. The proposal was first tabled by DDB Mudra in 2016. However, a deal could not be struck then, as many members unsatisfied with the terms.
The stadium, named after former MCA president SK Wankhede, was built in 1974. It underwent redevelopment ahead of the 2011 cricket World Cup and hosted the final, which saw India clinch the title by beating Sri Lanka. The venue also hosted some matches of the 2016 World Twenty20, including the semi-final that featured India and West Indies.
Pune’s Maharashtra Cricket Association had similarly sold the naming rights of its stadium. However, the deal turned sour after the Sahara group, which bought the rights, failed to make timely payments.