Mumbai Indians sets record as the first IPL franchise to reach INR 100 crore sponsorship
Four-time champions Mumbai Indians (MI) has been the most successful team in the history of the Indian Premier League. Earlier this week, the team, owned by business tycoon Mukesh Ambani have reached another milestone as they have become the first Indian sports franchise to bag ₹100 crore ($14m) in sponsorship revenue, according to reports.
This breakthrough was achieved following the recent sponsorship deals with Marriott Bonvoy and Astral Pipes as confirmed by MI spokesperson. There were no details revealed about the deal and financial contract, but reports claim that a three-year deal with Marriott Bonvoy alone is worth INR 30 crore ($4.2m). The logo of the company will be embedded on the right sidze of the players’ jerseys.
Marriott Bonvoy has been linked with global sporting teams and brands including Manchester United, Formula One, Bayern Munich, NFL and the NBA, while it is the first time that the international hotel brand funded an Indian sports franchise. Meanwhile, Astral Pipes’ logo will occupy space on the non-leading arm of the players.
Last year, MI had signed Samsung as its lead sponsor for three years in a deal valued at Rs 75 crore. For four seasons in a row, MI tops the charts of IPL brand valuation report with their brand value of ₹809 crores in 2019. They are the first team to reach 4 million followers on Instagram recently.
“My sense is that Mumbai Indians command a premium because of multiple factors – they have won four titles, it’s a high profile team owned by India’s biggest industrialist. They enjoy the limelight being in the financial capital. So brands also piggy back on that,” said R Ramakrishnan, co-founder at sports marketing firm Baseline Ventures.
Among other sponsors, the team has TV channel Colors’ logo on the back of a player’s jersey, Reliance Jio on the lead arm, Usha International on the front of the lead helmet, Burger King and William Lawson logos on the trouser and Sharp on the back of the helmet.
The team’s official partners include Dream11, Kingfisher, Boat, Taiwan Excellence etc, Radio City, Fever FM, Reliance Foundation’s Education and Sport for All (ESA), BookMyShow, Performex and DNA Networks.
Speaking of the upcoming season, the undisputed franchise led by Captain Rohit Sharma is gearing up to defend their title and exceed the expectation of their sponsors. They roped the dynamic Chris Lynn, who had a few excellent seasons for the Kolkata Knight Riders (KKR), while they also bought the services of Trent Boult, who was a part of the Delhi Capitals (DC) in the previous season of the T20 tournament.
The team will play its first match in the IPL on March 29 at home ground Wankhede Stadium against last year’s finalists Chennai Super Kings, while the final of the tournament will be played on May 24 also in Mumbai.
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