With the inclusion of two new teams along with INR 551 crore being spent in the mega auction, the Indian Premier League (IPL) 2022 has been off to a great start. Leveraging the popularity of the 14-season old Indian competition, the official broadcaster, Star Sports has also managed to sign 10 lucrative sponsorship deals ahead of the upcoming edition, according to SportsMint sources.
The sports broadcasting unit has reportedly got onboard Dream11, TATA and BYJU’S as their co-presenting partners. Cred, Spotify, Meesho, Asian Paints, Swiggy Instamart, Pepsi and Kamla Pasand have been signed as associate sponsors. The estimated investment for co-presenting sponsor is around INR 150 crore while for the associate sponsor is INR 90 crore.
The sports broadcasting firm under the Star India umbrella bought the IPL media rights in 2017 for the 2018-2022 cycle for an exorbitant INR 16,347.5. In the previous IPL media rights auction held by the Board of Control for Cricket in India (BCCI), Star Sports outbid Sony, who claimed the media rights for 10 years.
The tender for the media rights of the 2023-27 cycle will be out soon and the e-auction is likely to be held by March end. Along with Sony, Star Sports will also be competing with the likes of Amazon and Viacom18 for broadcasting rights.