TVS Eurogrip Tyres has reportedly signed a multi-year partnership with the Indian Premier League franchise Chennai Super Kings (CSK) as their front-of-shirt sponsor from IPL 2022 onwards, according to reports.
The deal is reportedly expected to be in the range of Rs 90 crore for three years.
The Chennai-based franchise has already been struggling to get a front-of-shirt sponsor for some time.
The Muthoot Group used to be the principal front-of-shirt sponsorship for three years till the 2021 season. After the finance company backed out, the franchise was struggling to get a new front-of-shirt sponsor on board.
There were reports that Czech auto major Skoda could sign a deal worth Rs 25 crore with the Super Kings before the 2021 IPL, but the agreement didn’t take place.
After which the popular e-commerce platform, Myntra signed a one-year deal for the current edition.
With TVS Tyres being headquartered in Chennai as well, it will provide the company with the huge backing of the Whistle Podu Army.
As TVS partners with CSK, it will help in reemphasising the belief of advertisers in CSK despite the uncertainty around Mahendra Singh Dhoni playing after 2022.
Tyres have been one of the most active categories in cricket and with CEAT being the official time out partner of IPL and MRF being the global sponsor of the ICC, this move by TVS will help in strengthening not just its regional presence but also leverage the pan India fan following of CSK.
CSK is one of the highest sponsorship valued teams in the IPL because of its brand value, strong following and successful title victories. The IPL 2022 is going to be bigger than ever with the addition of two new teams. It will help the advertisers and sponsors leverage more value from these teams. The inclusion of two more teams from the next edition will lead to an increase in the number of matches which will elevate the outreach of the advertisers and sponsors.
Meanwhile, TVS denied its association with Chennai Super Kings. It rejected the reports of becoming CSK’s principal sponsor in 2022 and dismissed the speculation by stating it as ‘untrue.’
CSK will be playing its first fixture of phase 2 against Mumbai Indians on September 19. The MS Dhoni-led team currently has acquired the second spot with 10 points in seven games.