The Indian Premier League (IPL), cricket’s biggest and most glamorous carnival, is set to return on March 22nd, 2024, with defending champions Chennai Super Kings taking on Royal Challengers Bangalore in a mouth-watering opening clash. But before the willow cracks leather, there’s another game being played off the field – the battle for sponsorships.
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Ceat, the well-known tyre manufacturer, has emerged as a key player in this off-field contest. They have secured the ‘strategic timeout’ partnership for a whopping Rs. 240 crore over five years, ensuring their brand will be prominently displayed during those crucial breaks in the action. This strategic move aligns perfectly with Ceat’s target audience, millions of cricket-crazy Indians who are also potential customers for their two-wheeler, car, and commercial vehicle tyres.
BCCI sold 4 IPL sponsorship slots for a cumulative sum of ₹1,485 crore to Ceat, My11Circle, Angel One and RuPay. pic.twitter.com/1oHxepDjZI
— Marketing Maverick (@MarketingMvrick) February 23, 2024
But Ceat isn’t the only one joining the IPL bandwagon. My11Circle, the fantasy sports platform, has outbid its rival Dream11 to become the associate sponsor, shelling out Rs. 625 crore for the privilege. This marks a significant entry into the cricket arena for My11Circle, and they’ll be hoping to leverage the IPL’s immense reach to attract new users and solidify their position in the Indian fantasy sports market.
Joining My11Circle are RuPay, the Indian payment network, and Angel One, the online broking platform. Both companies have secured associate sponsorships, further diversifying the IPL’s sponsor portfolio and highlighting the league’s growing appeal across various industries.
However, not all sponsorship opportunities found takers. The coveted ‘orange cap’ and ‘purple cap’ awards, given to the leading run-scorer and wicket-taker respectively, remain unsponsored, as do the umpire partnerships. This could be due to the high asking price or a lack of suitable brands aligning with these specific opportunities.
BREAKING : CEAT selected as official partner for the IPL. https://t.co/SCseu2PVsq pic.twitter.com/Xke89p6Rro
— ૐ (@ki7tu) February 23, 2024
Despite these unfilled slots, the BCCI (Board of Control for Cricket in India) can be pleased with the overall response to the IPL sponsorships. The combined value of the deals secured so far stands at a staggering Rs. 1,485 crore, showcasing the enduring popularity and commercial power of the IPL.
As the opening match approaches, the excitement is noticeable. Cricket fans are eagerly anticipating the return of their favourite players and teams, while brands are gearing up to leverage the IPL’s massive viewership to reach millions of potential customers. With strategic partnerships like Ceat’s, My11Circle’s, RuPay’s, and Angel One’s, the IPL promises to be not just a cricketing spectacle, but also a platform for brands to connect with their audiences in a truly engaging way. So, get ready for a season filled with sixes, wickets, and strategic branding, all wrapped up in the electrifying atmosphere of the Indian Premier League.
