Sticking to its stated policy of going for the highest bidder, the Board of Control for Cricket in India (BCCI) on Tuesday announced that TWI would be the sponsor of the national team for the next three years.

TWI, as Trans World International is better known and a subsidiary of the International Management Group (IMG), bid the highest, 49 per cent more than what the Board was receiving from ITC, BCCI President AC Muthiah told reporters after a meeting of the Board's Marketing Committee in New Delhi.

As per the new terms, the Board chief said, TWI will pay the Board Rs one crore per year for three years for the Trophy title which is yet to be decided.

It will pay Rs 50 lakh per Test and Rs 40 lakh per One-Day International for labelled clothing and Rs 5.5 lakh per Test and Rs 4.25 lakh per ODI for logo on non-leading arm (ie. right arm of a right hand batsman), he said.

It is for TWI now to rope in a corporate house as sponsor.

Muthiah said the new contract would be in force from July when the Indian team goes to Sri Lanka for a Test series and tri-nation One-Day series also involving New Zealand.

Asked who would be sponsoring the Indian team on the Zimbabwe tour, the BCCI president said the old agreement with ITC was still in operation and "we are discussing with ITC about which logo (Wills or Welcome Hotel Group) the players will wear". The team is scheduled to leave Mumbai for Harare in the early hours of May 25.

Muthiah confirmed that a graded payment for players would come into operation by the year-end. "We are also considering the players' demand for a contract to secure their future," he said but expressed reservations about players entering into contracts with the Board as well as corporate houses (for endorsements). "They can't have it both ways," he said adding that the problem could be resolved.

Muthiah, accompanied by BCCI secretary Jaywant Lele and treasurer Kishore Rungta, is leaving tonight to attend the Asian Cricket Council meeting to be held in Lahore on May 24. He said the agenda for the meeting includes discussion on development of cricket in the region and venues for the Asian Test Championship to be held later this year.

The Board President did not foresee any problem about India's participation in the Asian Test Championship and said "the ban is only on bilateral series".

Regarding the ICC Knock-Out Tournament, which India intends to host next year, he said "we are waiting to hear from the ICC". The issue will be discussed at the ICC meeting in London next month, he added.

© PTI