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:

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