Indian Premier League is coined as the ‘Hottest Cricketing Property’ and well it truly stands by the name. With just few weeks ahead of the 13th edition and the current situation of the pandemic, where many brands pulled out of the deals with the franchise and BCCI, there has been a surge in the deals when it’s just few days left to close the deals.
Apparently Indian edtech firm Unacademy has agreed with the Board of Control for Cricket in India (BCCI) to be the central sponsor of IPL for duration of three years. The gap which was left vacant after Future group decided to back out of the central sponsorship was filled by Unacademy. The deal is said to be worth $5.37mn per year.
Moreover, BCCI has confirmed that the Indian credit card payment company CRED, has also joined the list of central sponsors, hence filling all the three-partnership slots for IPL 2020.
Star India, pay-television broadcaster and TV rights holder for IPL, has also inked deals with 10 broadcast sponsors for IPL coverage this year across various platforms. Amazon, PhonePe and Dream11 are confirmed as co-presenting sponsors, with ITC Foods, Polycab, Asian Paints, Coca Cola, MRF, Mondolez and Kamala Pasand, as the other main brands that will advertise around the coverage.
While most of the sponsors backed out of the IPL deals with franchise due to the financial crunch and also IPL being shifted out of India to UAE, there are many brands who’ve taken the opportunity to capitalise on the market. Although there has been a drop in the sponsorship values by nearly 25-30%, but the spots are being filled up speedily.
IPL 2016 Champions, Sunrisers Hyderabad, have signed 13 sponsors and successfully closed their quota for IPL 2020. Similarly, all the franchises are on the verge of closing the deals well before the start of IPL.
Colgate has signed up with all the eight-teams. Sports equipment brand Tyka, Fancode, virtual reality sports platform IB Cricket and food brand Double Horse have also agreed deals with the franchise.
Recently Chennai Super Kings announced Fast&Up as the ‘Official Nutrition Partner – Digital’. Royal Challengers Bangalore has signed Mobile Premier League (MPL), which is also associated with Kolkata Knight Riders as ‘Principal Sponsors’.
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