Rajasthan Royals have signed a sponsorship deal with Shri Bajrang Power & Ispat Ltd. through their brands Goel TMT & Goel Pipes for IPL 2021. As part of this deal, Goel Group will be appearing on the team’s trousers. Sportsmint had exclusively revealed that the deal was agreed between both parties last week.
Goel TMT & Goel Pipes will have branding rights and engage in promotional activities throughout the IPL 2021 cricketing season. Talking about this association, Director of Shri Bajrang Power & Ispat Ltd., Sandeep Goel admitted that it will be a fruitful association since both parties are ambitious.
“Rajasthan Royals is an exciting franchise in the IPL and we are delighted to be sponsoring a team that embodies the same commitment, aspiration, and strength as GOEL TMT. At GOEL TMT & GOEL PIPES, we’re dedicated to offering strength, be it on field or off field. It gives us immense pride to be the associate sponsor of the Rajasthan Royals IPL team. We wish them all the best in their endeavor to bring the trophy home.”
This is not the first sponsorship deal for the brand. Goel Pipes was previously associated with the Delhi Daredevils ( Now, Delhi Capitals). With the kind of viewership of the IPL and the way branding & advertising strategies have changed recently, it seems like an ideal space for the brand to venture into the cricketing world once again. Making a comeback now will enhance the brand’s presence.
Sandeep Goel further elaborates, “Cricket is undoubtedly the most-watched sport in the country and provides the perfect platform to connect with millions of young and vibrant sports enthusiasts. We are all set to bat on a new pitch with this tie-up.”
Also speaking on the association, Jake Lush McCrum, Chief Operating Officer, Rajasthan Royals, stated, “We’re happy to welcome on board Shri Bajrang Power & Ispat Ltd. through their brands GOEL TMT & GOEL PIPES, as the Associate Sponsors of the Rajasthan Royals for the upcoming season. With innovation and quality being inherent elements of their brands, the synergistic alignment is strong. We’re looking forward to a mutually beneficial partnership that can further enhance the ties between our two organizations.”
Rajasthan Royals looking to improve sponsorship revenue
Along with eyeing the trophy, Rajasthan Royals will also be looking forward to increasing their sponsorship revenue. According to the Duff & Phelps report, they suffered an 8.1 to 8.1% dip in brand value last year from Rs 271 crore to Rs 241 crore. Even IPL’s brand value saw a dip of 3.6% in 2020 due to the COVID-19 pandemic.
The franchise also had trouble finding a title sponsor this year as their deal with TV9 Bharat, the title sponsor for the team in the 13th season fell short owing to commercial expectation mismatch. However, they signed Dubai Expo 2020 as their title sponsors, before their jersey reveal earlier this week. The Royal Blues play their first game against Punjab Kings on April 12 in Mumbai.