Chennai Super Kings bags new title sponsor with Skoda replacing Muthoot
MS Dhoni side Chennai Super Kings, signed a whopping Rs 75 crore (US$10.2 million) deal with Czech car manufacturer, Skoda as their new principal sponsor ahead of the 14th season of the and runners-up for Indian Premier League (IPL),. The three-time IPL champions CSK is one of the favorite IPL 2021 teams to clinch the title despite finishing in seventh place in last year’s IPL table.
According to reports, the new three year deal for 2021 IPL sponsorship with Skoda replaces Muthoot Group, who had their logo on the front of the Chennai player’s jersey as they acted as the primary sponsor for three years. It is learnt that the CSK has lifted the IPL title in 2010, 2011 and 2018 and have the best win percentage among all teams in the league.
Our latest cricket news: BCCI confident of hosting IPL in India on April 11, reports
The prior agreement with Muthoot Group was also a profitable one, worth around Rs 65 crore, translating to $8.9 million. Despite a difficult season last year, which resulted to a record of 22% loss in brand value, largely due to the COVID-19 pandemic, the Super Kings remain the IPL’s second most valuable franchise at $59.8 billion, behind the Mumbai Indians at $70.3 million.
Mumbai also enjoyed sponsorship success in 2020, signing new partnerships with Marriott Bonvoy, Colgate, Cadbury Dairy Milk and William Lawson’s, whilst maintaining existing agreements with Colors, Jio, Samsung and Usha. The winners of last year’s IPL have also registered the highest brand value in last year’s tournament, having enjoyed a 7.1% increase in their brand value.
Meanwhile, the cash-rich tournament itself has a new setback as they are currently without a title sponsor. Presently, neither the IPL’s official website nor any of the IPL’s press releases carries Dream11 name or logo anymore. According to reports, BCCI are open to make a new deal with VIVO, but the current tension seems not feasible for the Chinese mobile maker’s return.
However, the Board of Control for Cricket in India (BCCI) remains confident in hosting the cash-rich tournament in India, according to various reports. The mini auction for IPL 2021 has already been confirmed to take place in Chennai on February and now the tournament is all set to get underway from April 11 till June 6th or 7th, 2021.
Last year, Mumbai Indians have successfully defended their IPL title and clinched their fifth trophy after thrashing Delhi Capitals by five wickets in the final in Dubai. Brilliant hostile bowling led by Trent Boult took MI to victory, now the most successful team in IPL history, chased 157 with eight balls to spare as captain Rohit Sharma hit 68. The 2020 edition of the tournament was held entirely in the UAE.
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