Delhi Capitals (DC) has roped in Astral adhesives as their ‘Official Partners’ ahead of IPL 2020. As per the deal, the brand logo ‘Bond Tite’ takes a spot on the non-lead arm of the team’s playing kit.
Since IPL is just few days away, most of the teams are on the verge of closing the sponsorship deals for this season and all set to get on the ground. Delhi Capitals, co-owned by JSW and GMR groups, aims to net Rs 60 crore in sponsorship funds this year.
In 2019, DC signed long term partnership deals with Daikin, Lotus Herbals, Jio Digital. Although their principal sponsor, Daikin backed out of the league, it is replaced by JSW. Similarly, the Delhi based franchise also roped in Ebix Cash as one of the sponsors.
Dhiraj Malhotra, CEO of DC said, “Given our performance last year, brands are showing keen interest. Despite the slowdown, we have managed to get up to a 25% increase in our sponsorship rates. We should be able to hit Rs 60 crore solely in sponsorship revenues this season.”
The franchise is also thinking to have fewer brands on board with premium rates, as it gives more space for the brands to leverage their image. In this way the team gets to achieve their sponsorship revenues while the brand gets more visibility. Most of the partnerships signed by DC are for three-years with some of them having provision of further extending to two more years.
Delhi Capitals took to Twitter and Instagram to announce their new official partner Astral Adhesives for the upcoming Dream11 IPL 2020.