IPL 2020: Mumbai Indians bag INR 100 crore sponsorship money

Mumbai Indians (MI), the four-time champions of the Indian Premier League (IPL), has managed to bag a sponsorship deal worth INR 100 crore. Subsequently, the team, owned by business tycoon Mukesh Ambani, became the first Indian sports franchise to clinch a deal as big as one billion. MI has struck the deal with two new sponsors- Marriot Bonvoy and Astral Pipes.

The development was confirmed by a Mumbai Indians spokesperson. It added that the contract with Marriot Bonvoy is for three years. The financial details of the contract weren’t revealed, but sources said that the deal with Marriot Bonvoy is worth INR 30 crore. The logo of the company will be seen on the right side of the players’ jerseys.

The company has been associated with some massive sporting names including Manchester United, Formula One, Bayern Munich, NFL and the NBA. However, it will be the first time the brand will be working with an Indian sports franchise.

Mumbai Indians’ performance helping their cause

“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,” R Ramakrishnan, the cofounder at sports marketing firm Baseline Ventures, was quoted as saying in Economic Times.

It has been learned that the logo of Astral Pipes will be on the non-leading arm of the players. As per the latest brand valuation report from Duff & Phelps, MI continued to top the charts for the fourth successive season courtesy the team’s consistent performances on the field.

Last year in 2019, MI had inked a deal with Samsung as its lead sponsor for three years, valued at INR 75 crore. The other sponsors of Mi are Colors on the back of a player’s jersey, Reliance Jio on the lead arm, Sharp on the back of the helmet, Usha International on the front of the helmet, and Burger King and William Lawson logos on the trouser.

As far as action on the ground is concerned, MI will begin their campaign on March 29 against the Chennai Super Kings at the Wankhede Stadium in Mumbai. With Rohit Sharma as their skipper, Mumbai have come leaps and bounds.