- Mumbai Indians has now become the first Indian sports franchise to clock Rs 100 crore sponsorship revenues with two new sponsors on board.
The Indian Premier League (IPL)’s most successful team, Mukesh Ambani-owned Mumbai Indians has now become the first Indian sports franchise to clock Rs 100 crore sponsorship revenues. Two new sponsors-Marriott Bonvoy and Astral Pipes-have signed the four-time winner franchise to reach the new milestone.
A spokesperson for Mumbai Indians has reported signing a three-year contract with Marriott Bonvoy, the loyalty program for all Marriott International’s 30 hotel brands, though refusing to disclose financial details. Nonetheless, Sources in Reliance said the three-year deal is worth Rs 30 crore, and the Marriott Bonvoy logo will appear on the player’s right chest as part of the deal
Marriott Bonvoy has been associated with global sports teams and companies like Manchester United, Formula One, Bayern Munich, NFL, and the NBA. It is the first time the company has signed a sponsorship deal with an Indian sports franchise. But Astral Pipes must occupy space on the players ‘ non-leading neck.
Last year, in a deal estimated at Rs 75 crore, MI had signed Samsung as their lead sponsor for three years.
“I feel that because of multiple factors, Mumbai Indians command a premium–they’ve won four titles, it’s a high profile team owned by India’s biggest industrialist. They love being at the limelight in the financial capital.
But brands piggyback on that too, “said Ramakrishnan, co-founder at Baseline Ventures, a sports marketing agency. According to the latest IPL brand valuation report from Duff & Phelps, MI continued to top the charts for the fourth season in a row, with a brand value of Rs 809 crore (in 2009), thanks to its consistent on-field performance.
MI’s sponsors include Colors (back), Reliance Jio (lead arm), Usha International (lead helmet), Sharp (back helmet), and Burger King and William Lawson (trouser). The team’s official partners include Dream11, Kingfisher, Sail, Taiwan Excellence and so on, Radio City, Fever FM, Reliance Foundation for Education and Sport for All (ESA), BookMyShow, Performex and DNA networks.
Captain Rohit Sharma leads MI’s team, and also includes key players such as all-rounder Hardik Pandya and pacer Jaspreet Bumrah. The team will play its first match against last year’s finalists Chennai Super Kings at home ground Wankhede Stadium on March 29th.
Source- Economic Times