The Indian Olympic Association (IOA) has roped in the JSW Group as another sponsor for the country’s Tokyo Olympics contingent. As per the agreement, JSW Group has pledged a sponsoring amount of Rs 1 crore to the IOA for the games in Tokyo. IOA president Narinder Batra and secretary-general Rajeev Mehta confirmed the deal with JSW in an official statement.
“We are happy to inform you about one more sponsorship offer which is confirmed with JSW Group for the Tokyo 2020 Olympic Games since our last update to you on 17th June. Parth Jindal, CEO of JSW, has confirmed to us for the sponsorship of Rs 1 crore to IOA.”
Earlier this week IOA had roped in mobile gaming platform MPL Sports Foundation as the principal sponsor of the country’s contingent for the Tokyo Olympics and next year’s Birmingham Commonwealth Games. MPL has joined hands with IOA for one and a half years until December 2022, paying a total of Rs 8 crore to the governing body of the Indian Olympics. Amul has also pledged Rs 1 crore in terms of sponsorship money till December 2021.
Recently the IOA decided to remove Chinese sportswear and equipment brand Li Ning from its list of sponsors for the upcoming Tokyo Olympics. As a result, the Indian contingent will not wear Li Ning branded apparel during the Games. IOA unveiled the complete kit for the Olympics which had Li Ning on it. Li Ning was the sponsor of training apparel, leisurewear, and footwear to the Indian contingent, including officials, for the 2018 Jakarta Asian Games, the 2018 Olympic Youth Games, and the Tokyo Olympics.
The total value of the deal with Li Ning was estimated to be between Rs 5-6 crore. IOA is offsetting the losses incurred by parting ways with Li Ning by agreeing on multiple sponsorship deals with Indian brands before Tokyo Olympics. JSW has been consistently investing in Indian Sports as they already own Delhi Capitals in IPL and Bengaluru FC in ISL.