ipl 2024 sponsorship opportunities - Unified Sports

ipl 2024 sponsorship opportunities

Sponsorship is a dynamic marketing strategy that enables brands to forge meaningful connections with their target audience while supporting various initiatives and events. In the past year, 80,000 brands invested over $60 Billion on over 160,000 sports, celebrity, athlete, entertainment, and event sponsorship deals. 

In a sponsorship arrangement, the sponsoring brand provides support financial or otherwise to the sponsored entity which could be an event, a sports team, an artist, or an organization. In return for this support, the brand gains exposure, association with the values of the sponsored entity, a unique platform to engage with its target audience, and the opportunity to get in front of new prospects, fans, or groups. In the sponsorship, there are several distinct types, each offering unique benefits and opportunities for the brands. 

So here are the different types of sponsorships in detail, including real-world examples for better understanding.

Title Sponsorship:

Title sponsorship involves the highest level of sponsorship and often includes naming rights for an event, organization, or property. The title sponsor’s name is prominently featured in the title of the sponsored entity, gaining maximum exposure and brand visibility.

 For example,

  • PepsiCo: From 2013 to 2015, PepsiCo was the Indian Premier League’s primary sponsor. At this time, the league was referred to as the “Pepsi IPL.” PepsiCo’s major engagement with the Indian Premier League demonstrated the brand’s dedication to sports and entertainment.
  • Vivo: In 2016, Vivo secured a two-year contract of INR 200 crore to serve as the IPL’s headline sponsor. After being extended for an additional five years in 2017, the agreement became one of the most costly championship sponsorships in cricket history.
  • Dream11: A fantasy sports platform called Dream11 was able to acquire the IPL’s title sponsorship rights in 2020 when Vivo withdrew due to geopolitical issues between China and India. According to reports, Dream11’s sponsorship arrangement was worth INR 358 crore.

Official Sponsorship:

Official sponsorship entails a strategic partnership between a brand and a property, event, or organization, granting the sponsor exclusive rights and privileges within a specific category. Official sponsors enjoy branding opportunities, promotional benefits, and exclusive association with the sponsored entity.

For example,

  • Paytm: Paytm has been associated with the IPL as an official sponsor. 
  • Vodafone: Vodafone has had official sponsorships in cricket, including the IPL. 
  • Amazon: Amazon has been associated with cricket through official sponsorships, including the IPL. 

Associate Sponsorship:

Associate sponsorship involves a secondary level of sponsorship that provides brands with visibility and promotional opportunities associated with a sponsored entity. While associate sponsors may not have exclusive rights, they still benefit from brand exposure and association with the sponsored property. 

  • Airtel: Airtel, a leading telecommunications company, has had associate sponsorships in cricket events like the IPL.
  • ICICI Bank: ICICI Bank, one of India’s largest private sector banks, has been an associate sponsor of the IPL.
  • Dabur: Dabur, a leading consumer goods company, has had associate sponsorships in cricket events, including the IPL.

Official Partners:

Official partners are brands that collaborate with a property, event, or organization to support specific initiatives, programs, or activities. Official partners receive branding opportunities, promotional exposure, and collaborative opportunities with the sponsored entity.

For example,

  • BCCI: The Board of Control for Cricket in India (BCCI) serves as the governing body for cricket in India and is often an official partner of cricket events like the IPL. 
  • Star Sports: Star Sports, a leading sports broadcaster in India, holds the broadcasting rights for the IPL and is an official partner. 
  • Fantasy Cricket Platforms: Fantasy cricket platforms have become official partners of cricket events like the IPL, leveraging the popularity of fantasy sports. 

Principal Partners:

Principal partners hold a significant position in sponsorship agreements, often serving as major financial backers or key supporters of a sponsored entity. Principal partners enjoy prominent branding, visibility, and recognition for their contributions.

For example,

  • Official Equipment Partner: Equipment partners supply cricket gear and equipment for IPL teams. Examples include SG (Sanspareils Greenlands), Adidas, and MRF (Madras Rubber Factory). 
  • Official Hospitality Partner: Hospitality partners provide premium hospitality experiences for guests attending IPL matches. Examples include Marriott International and Taj Hotels.
  • Official Food and Beverage Partner: Food and beverage partners supply refreshments and catering services at IPL venues. Examples include PepsiCo, Coca-Cola, and Domino’s Pizza. 

Associate Partners:

Associate partners collaborate with a sponsored entity to provide support, resources, or expertise in specific areas or initiatives. While associate partners may not have the same level of prominence as principal partners, they still play a valuable role in the sponsorship ecosystem.

 For example, 

  • Official Healthcare Partner ( Apollo Hospitals, Fortis Healthcare): Healthcare partners offer medical support and services for players.
  • Official E-commerce Partner (Flipkart, Amazon): E-commerce partners promote their platforms and offer exclusive deals to fans. 
  • Official Gaming Partner ( MPL, Mobile Premier League): Gaming partners sponsor fantasy leagues and gaming activities related to the IPL. 

Merchandise/Licensing Partners:

Merchandise or licensing partners collaborate with a property or organization to produce branded merchandise, products, or licensing agreements. These partnerships enable brands to extend their reach, generate additional revenue streams, and engage fans through branded products. 

For example, 

  • Official Jersey Partner (Adidas, Nike): Jersey partners design and produce team jerseys worn by players during IPL matches.
  • Official Cap Partner (New Era, Puma): Cap partners provide headwear featuring team logos and designs for fans.
  • Official Fan Apparel Partner (Fanatics, Under Armour): Fan apparel partners produce a wide range of clothing items, including t-shirts, hoodies, and jackets, for supporters of IPL teams.

Official Broadcast/Media Partners:

Official broadcast or media partners collaborate with a property, event, or organization to provide coverage, distribution, or broadcasting rights for media content. These partnerships ensure widespread visibility and exposure for the sponsored entity across various media platforms.

 For example,

  • Star Sports: Star Sports is the official broadcaster of the IPL, providing live coverage of matches across its network of channels. 
  • Sony Pictures Networks India: Sony Pictures Networks India has previously held broadcasting rights for the IPL, broadcasting matches on its television channels and digital platforms.
  • Disney+ Hotstar: Disney+ Hotstar is the official digital streaming partner of the IPL, offering live streaming of matches and additional content on its platform.

Kit Sponsorship:

Kit sponsorship involves brands partnering with sports teams or athletes to provide funding, apparel, or equipment in exchange for branding rights on team uniforms or kits. Kit sponsors benefit from extensive visibility and exposure during matches and events. 

For example

  • Adidas: Adidas is a renowned sportswear brand that has provided team kits for various sports teams, including football and cricket. 
  • Nike: Nike is a leading sportswear brand known for its innovative designs and high-quality apparel. 
  • Puma: Puma is a popular sportswear brand that has sponsored several cricket teams worldwide. 
SponsorshipBrand
Title SponsorTata Group
Associate PartnerMy11Circle, Angle One, RuPay
Official BroadcastersStar Sports
Official Digital Streaming PartnersJio Cinema
Official Strategic Timeout PartnerCEAT
Umpire PartnersPayTM
Official Orange & Purple Cap PartnerTBA
Source : Times of Sports

Conclusion:

Sponsorship is a key component of the IPL’s success as it develops and broadens its worldwide reach, and growth, encouraging innovation, and improving the whole fan experience.

Millions of cricket fans worldwide will be inspired by the IPL and its sponsors as they write the next chapter in cricket history through smart collaborations and a shared commitment to excellence.

Reference link :

https://economictimes.indiatimes.com/news/sports/dream11-secures-bcci-lead-sponsor-rights-for-rs-358-crore/articleshow/101400232.cms?from=mdr https://www.timesofsports.com/cricket/ipl/2024-sponsors-list/

Sponsorships in IPL

Introduction 

The Indian Premier League (IPL ) isn’t just a cricket tournament; it’s a showcase of talent, passion, and commercial prowess. Corporate sponsorship of sports in India constitutes only 1% of a global market estimated to be worth $40 billion, In 2023, sponsorship revenue grew 24% to ₹7,345 crore on the back of robust growth in franchise fees besides on-ground and team sponsorships. The IPL alone contributed more than ₹3,000 crore to sponsorship spending across central, team, and franchise fees.

In IPL 2024, sponsorship deals soared to unprecedented heights, with teams locking in partnerships that not only boost their finances but also elevate their brand image. Tata is the current title sponsor for the Indian Premier League 2024, here are the following sponsors since 2008:

SponsorPeriodSponsorship fee (per year)
DLF2008–2012₹40 crores (US$5.3 million)
Pepsi2013–2015₹79.4 crores (US$10.5 million)
Vivo2016–2017₹100 crores (US$13.3 million)
Vivo2018–2019₹439.8 crores (US$58.4 million)
Dream112020₹222 crores (US$29.5 million)
Vivo2021₹439.8 crores (US$58.4 million)
TATA2022-2023₹439.8 crores (US$58.4 million)
TATA2024-2028₹2500 crores (US$300 million)

As the 17 edition of IPL kickstarts, brands have also padded up as team sponsors. Some of the franchises are expected to garner growth in the range of 15-20% in terms of sponsorship revenues this season. Several IPL teams have inked new sponsorship deals for this season while renewing existing partnerships. So let’s take a closer look at the top five sponsorship teams in IPL 2024 and the companies backing them up.

Mumbai Indians:

Mumbai Indians, known for their consistent performance on the field, have also mastered the art of securing top-tier sponsorships. In IPL they continued their winning streak by partnering with leading brands in multiple sectors. For the 2023 season, Mumbai Indians have sponsorship agreements with 28 brands with their top five partners accounting for 47% of the club’s total income from sponsorship.

In the 17-year history of the league, Mumbai Indians have had their most prosperous commercial year in 2024, making them one of the most sought-after IPL teams. There are now 26 brands on the team’s sponsorship roster—11 foreign and 15 domestic—after the addition of 12 new partners. This growth is a result of a 20% rise in sponsorship value.

Skechers, Castrol, Goldi Solar, Cadbury Dairy Milk, Sanghvi S3 Group, Kingfisher, Kaspersky, Pokémon, NIC Ice Creams, Bugles, GK TMT, and BGMI Krafton are among the new partners in 2024. This is on top of the fourteen current partnerships that are being maintained from the prior year.

Biggest MI Sponsorship Deals:

  • Reliance Jio, one of India’s leading telecommunications companies, serves as the Official Digital Services Partner for the Mumbai Indians in IPL 2024. As part of the partnership, Reliance Jio provides high-speed internet connectivity and digital services to enhance the fan experience during matches.
  • Samsung, a global leader in technology and innovation, holds the title of Official Smartphone Partner for the Mumbai Indians in IPL 2024. As part of the sponsorship agreement, Samsung provides the Mumbai Indians players and staff with cutting-edge smartphones equipped with the latest features and technologies.
  • Dream11, India’s largest fantasy sports platform, serves as the Official Fantasy Gaming Partner for the Mumbai Indians in IPL 2024. Through this partnership, Dream11 offers fans the opportunity to engage in fantasy cricket leagues and competitions based on Mumbai Indians matches.
  • Marriott Bonvoy, the loyalty program of Marriott International, is the Official Hospitality Partner for the Mumbai Indians in IPL 2024. As part of the collaboration, Marriott Bonvoy provides exclusive hospitality services and benefits to Mumbai Indians players, management, sponsors, and VIP guests.

Chennai Super Kings:

Despite facing challenges on the field because of allegations of match-fixing and illegal betting Chennai Super Kings maintain their stronghold in the sponsorship arena. In IPL they partnered with prominent brands across various categories. Chennai Super Kings’s total sponsorship revenue.

For the 2023 season is over $13.9m, with the biggest single investment coming from TVS Eurogrip, which is an agreement valued at $4.48m per year. However, sponsorship values vary greatly across the different levels of partnership opportunities offered by a rights-holder, all of which are detailed in the report, in addition to the revenues of the participating teams. In total, Chennai Super Kings have sponsorship agreements with 15 brands in the 2023 season, with their top five partners accounting for 63% of the club’s total income from sponsorship. 

Now in IPL 2024, Etihad Airways signed as one of the principal sponsors ahead of which will see the Etihad brand displayed on the backside of the jersey. The team also has sponsorship deals with India Cements, Gulf Oil, SNJ Breweries, the Muthoot group, British Empire, Aircel, Gulf Oil, Reliance Jio, Astral Pipes, ICICI Bank Coca-Cola, and Vision11.

Biggest CSK Sponsorship Deals:

  • The Muthoot Group, a leading financial services conglomerate in India, serves as the Principal Team Partner for the Chennai Super Kings in IPL 2024. As the principal sponsor, the Muthoot Group’s logo prominently features on the front of CSK’s playing jersey, gaining significant exposure during matches and other team-related events.
  • British Empire, a renowned sports apparel manufacturer, is the Official Kit Partner for the Chennai Super Kings in IPL 2024. Under this partnership, the British Empire designs and supplies CSK’s playing kits, training attire, and other merchandise.
  • Aircel, a leading telecommunications company in India, is the Official Mobile Partner for the Chennai Super Kings in IPL 2024, holding the position of an Associate Sponsor. As the Official Mobile Partner, Aircel leverages its branding rights to promote its products and services through various marketing channels.
  • Gulf Oil, a leading lubricants manufacturer, is the Official Lubricants Partner for the Chennai Super Kings in IPL 2024. Under this partnership, Gulf Oil provides high-performance lubricants and automotive fluids to support CSK’s fleet of vehicles, including team buses, support vans, and equipment transport vehicles.

Royal Challengers Bangalore:

For the 2023 season, RCB secured partnerships with high-profile brands spanning diverse sectors. With an annual sponsorship deal worth $3.04 million, Qatar Airways is the biggest single investor in Royal Challengers Bangalore, which will bring in over $15.5 million in sponsorship revenue. Royal Challengers Bangalore has sponsorship deals with a total of 26 brands; the club’s top five sponsors will provide 54% of its sponsorship revenue.

Now in IPL 2024, the highest-spending sponsor brands, according to the Global Data survey, include, among others, Jio, Hind ware Homes, KEI Wires & Cables, Happilo, Qatar Airways, Myntra, MRF tires, and Wrogn.

Biggest RCB Sponsorship Deals:

  • Myntra, one of India’s leading online fashion retailers, is the Official Fashion Partner for the Royal Challengers Bangalore in IPL 2024. Under this partnership, Myntra collaborates with RCB to curate exclusive merchandise collections and fashion collaborations.
  • MRF Tyres, a leading tire manufacturer in India, serves as the Principal Team Sponsor for the Royal Challengers Bangalore in IPL 2024. As a sponsor, MRF Tyres’ logo prominently features on the front of RCB’s playing jersey, gaining significant exposure during matches and other team-related events.
  • Wrogn, a popular fashion brand owned by Indian cricketer Virat Kohli, is the Official Apparel Partner for the Royal Challengers Bangalore in IPL 2024. Under this partnership, Wrogn designs and supplies RCB’s playing kits, training attire, and other merchandise, incorporating the team’s colors and logo into the apparel designs.

Kolkata Knight Riders:

KKR Backed by Bollywood superstar Shah Rukh Khan’s star power, the Kolkata Knight Riders are a magnet for sponsors seeking exposure to India’s cricket-crazy audience. 

For the 2023 season, Kolkata Knight Riders have secured around $14.8 million in sponsorship revenue. Of this amount, MyFab11 has committed the largest single commitment, valued at $3.80 million annually. Kolkata Knight Riders have sponsorship deals with a total of 20 businesses; the club’s top five sponsors will provide 53% of its sponsorship revenue.

Now the sponsor brands with the largest spending are MPl, Kingfisher, Coca-Cola, Jio Mart, MyFab11, BKT, Lux Cozi, JOY, and Money9, according to the Global Data study.

Biggest KKR Sponsorship Deals:

  • Mobile Premier League (MPL), a leading mobile gaming platform in India, serves as the Principal Partner for the Kolkata Knight Riders in IPL 2024. MPL’s association with KKR provides significant branding opportunities, including the placement of their logo on the team’s playing jerseys.
  • Kingfisher, one of India’s most popular beer brands, is the Official Good Times Partner for the Kolkata Knight Riders in IPL 2024. Through this partnership, Kingfisher gains branding opportunities at KKR’s matches and promotional events, as well as access to the team’s extensive fan base.
  • Coca-Cola, a global leader in the beverage industry, serves as the Official Refreshment Partner for the Kolkata Knight Riders in IPL 2024. As the Official Refreshment Partner, Coca-Cola provides a range of beverages, including carbonated soft drinks, juices, and water.
  • JioMart, an e-commerce platform operated by Jio Platforms, is the Official Grocery Partner for the Kolkata Knight Riders in IPL 2024. Jio Mart’s partnership with KKR involves fulfilling the team’s grocery and supplies, nutritional products, and household essentials.

Rajasthan Royals:

Rajasthan Royals, have proven their prowess in attracting sponsors with innovative marketing strategies. In IPL RR secured partnerships across various sectors, reflecting their commitment to sustainability and community engagement.

For the 2023 season, with an agreement worth $3 million a year, Luminous Power Technologies is the biggest single investor in the Rajasthan Royals, who will bring in over $12.8 million in sponsorship money. Rajasthan Royals have sponsorship deals with a total of 23 brands; the club’s top five sponsors will provide half of its sponsorship revenue.

Now the sponsor brands with the largest spending include Luminous Power Technologies, Red Bull, Dollar, BKT, and Jio, KEF Infra, Red Bull, Eat Fit according to the Global Data study.

Biggest RR Sponsorship Deals:

  • KEF Infra, a leading player in offsite manufacturing technology, is the Official Infrastructure Partner for the Rajasthan Royals in IPL 2024. KEF Infra’s partnership with RR involves providing innovative infrastructure solutions for the team’s training facilities, stadium amenities, and other operational requirements.
  • Red Bull is a principal partner of Rajasthan Royal, and it is a popular Austrian energy drink known for its stimulating effect and association with extreme sports. It was first introduced in 1987 and is now sold in over 170 countries.
  • Eat Fit is an official partner of Rajasthan Royal, it is a popular Indian healthy meal delivery service that provides fresh and nutritious meals and caters to individuals seeking convenient and healthy meals.

Conclusion:

In IPL 2024, sponsorship deals played an important role in providing the league’s commercial landscape, with teams securing partnerships across many sectors. In the past year, 80,000 brands invested over $60 Billion on over 160,000 sports, celebrity, athlete, entertainment, and event sponsorship deals. The sponsorship has significantly contributed to the expansive reach of the matches and strengthened the connection between the audience and brands. This relationship has been beneficial for both sponsors and teams. For sponsors, aligning with the IPL offers unparalleled visibility and exposure to a massive and diverse audience, both locally and globally

Teams who collaborate with respectable businesses see a boost in sales as well as increased brand knowledge and loyalty, which in turn draws in more sponsors and spectators. Moreover, sponsorship facilitates the creation of innovative fan engagement initiatives and activations. So the sponsorship of the IPL not only amplifies the visibility and impact of brands but also enriches the experience for fans, creating a mutually beneficial ecosystem that fuels the continued success and growth of the league.

Reference link:

https://www.campaignindia.in/gallery/ipl-2024-sponsorships-round-up/494489/amphttps://www.iplt20.com/ https://www.timesofsports.com/cricket/ipl/2024-sponsors-list/ https://sportsmintmedia.com/ipl-2024-sponsors-watch-rajasthan-royals/ https://economictimes.indiatimes.com/news/sports/mumbai-indians-hit-another-century-in-brand-new-season/articleshow/108687273.cms?from=mdr https://www.sportcal.com/data-insights/top-10-sponsor-partners-chennai-super-kings/?cf-view https://www.globaldata.com/store/report/indian-premier-league-business-analysis/?utm_source=lgp5-ipl&utm_medium=32-67686&utm_campaign=thematic-report-hyperlink https://www.moneycontrol.com/news/trends/sports/ipl-2023-team-sponsorship-revenue-to-grow-10-teams-expand-revenue-streams-10323781.html