Cricket Business : Cricket Australia rejects $10 million a year sponsorship deal from McDonald’s deal in favor of KFC

Cricket Australia has reportedly rejected a $10 million per year sponsorship from fast food outlet McDonald’s.

According to the Sydney Morning Herald, McDonald’s had attempted to take the Big Bash League naming rights from its competitor, and long-term sponsor of the competition, KFC.

The decision means KFC will likely extend its existing arrangement with Cricket Australia, in a deal said to be worth $8 million a year.

“KFC is a longstanding partner of ours and loyalty is important to us during times like this,” a CA spokesperson told the Herald.

Big Bash League LIVE : KFC to continue as TITLE Sponsor of BIG BASH League
KFC currently pays $6.5 million a year for the naming rights. According to the report, the deal is now being renewed at $8 million a year. 
As an counter offer, McDonald was ready to pay $10 million per year for the title sponsorship of BIG BASH, but Cricket Australia decided to still move ahead with KFC. 

The chicken shop has sponsored the Big Bash since it was created and has had a relationship with Cricket Australia’s Twenty20 tournaments spanning 15 years.

KFC’s loyalty as a Cricket Australia sponsor will no doubt carry extra significance for the administrator, given it has lost two naming rights sponsors for test matches in the last 3 years.

The decision by Cricket Australia to turn down extra money in favour of loyalty comes as the administrator faces tough financial conditions.

It was recently forced to cut 40 jobs from its head office as part of a $40 million budget cut.