Ipl Sponsors 2023 – One of India’s largest conglomerates, the Tata Group, is set to replace Chinese mobile phone maker Vivo as the title sponsor of the Indian Premier League from this year.
One of India’s largest conglomerates, the Tata Group, will replace Chinese mobile phone maker Vivo as the title sponsor of the Indian Premier League for the next two years. According to reliable sources, the Tatas will pay around Rs 670 crore for the two years of title sponsorship and Vivo will pay a total of Rs 454 crore for canceling the contract, making the BCCI a decisive win. to earn a whopping Rs 1124 crore for the 2022 and 2023 seasons respectively.
Ipl Sponsors 2023
“Yes, the Tata group is coming in as the title sponsor of IPL,” IPL chairman Brijesh Patel confirmed the development to PTI. BCCI Secretary Jay Shah congratulated the company for the new role.
Ipl Sponsors List 2022
“This is a big occasion for the BCCI IPL as the Tata Group is a leading global Indian enterprise with more than 100 years of heritage and operations in more than 100 countries across six continents,” Shah said in a statement . The media. It has been learned that the Tata Group can also remain the title sponsor for the 2023 IPL season, which is a one-year concession for Vivo since it lost the sponsorship season in 2020.
Vivo initially agreed to Rs 2200 crore for the title sponsorship rights from 2018-2022 but after the Galway Valley 2020 military clash between the Indian and Chinese armies, the brand took a year off due to public backlash and. Dream11 replaced him in IPL. However, Vivo is back as the title sponsor of IPL in 2021 despite speculation that the company is looking to transfer the rights to a suitable bidder and the move has been approved by the BCCI.
It has been learned from a reliable source in BCCI that the commission will earn Rs 547 crore in 2022 and Rs 577 crore in 2023. According to available information, Vivo has pledged Rs 996 crore for sponsoring the title for two years (2022 and 2023) with Rs 484 crore in 2022 and 512 crore the following year.
The value increased as the IPL expanded to a 10-team event with 74 matches this year instead of 60 teams with eight teams. So how does the breakdown of Rs 1124 crore windfall work for BCCI? The Tatas will pay Rs 670 crore at the rate of Rs 335 crore per annum. Out of this, Rs 301 crore will be the rights fee and an additional Rs 34 crore will be the increase fee (for an increase of 14 games). But since Vivo decided to cancel the contract, it will have to pay the difference in the two years – Rs 183 crore for 2022 and Rs 211 crore for 2023. In addition, Vivo will have to pay 6 percent of the salary for both head. Next year will reach Rs 29 billion in 2022 and Rs 31 crore in 2023.
Ipl Title Sponsors And Fees From Ipl 2008 To 2023
Thus, Vivo will exit the sponsorship deal by paying 454 million rupees, which is more than the one-year sponsorship that the company initially promised. For the Tatas, it’s a big deal as they have marquee sponsorship rights at a fraction of the cost for the next two years. The BCCI is the biggest winner, earning both new and existing sponsors.
“BCCI, like the TATA Group, is keen to promote the spirit of cricket across international borders, and the growing popularity of IPL as a global sports franchise is a testament to BCCI’s efforts,” said Shah. “We are very happy that India’s largest and most trusted business group has believed in the growth of IPL and together with the Tata Group, we will strive to take Indian cricket and IPL to greater heights,” he said.
Most of the stakeholders of the IPL are happy to see the back of Vivo as most of them are not comfortable with the Chinese company on board after the 2020 event which increased the diplomatic tension between the two countries. “This is expected to happen sooner or later because the presence of Vivo has brought bad publicity to both the league and the company. With the bad feeling about the Chinese product, the company had to withdraw from the sponsorship for a season only left for the contract. to be completed,” said a BCCI source.
The economics of the sponsorship is that the BCCI keeps 50 percent of the money and distributes the rest to the IPL franchises which currently have 10 teams with two new teams added this year. It is understood that live tenders will be invited for the next round in 2024.
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“The Tata group wants to be the title sponsor for five years but a bidding process has to be in place. But the BCCI is thinking of having a suitable option with the Tatas in case they are interested in the next round ,” a source said.
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Tata Group Replaces Vivo As Ipl Title Sponsors For 2 Years; Bcci Set To Reap A ₹1124cr Windfall
The Indian Premier League (IPL) is not only the most watched cricket league in the world, but is also a hotspot for business and sponsorship opportunities. With #ipl2023 kicking off last week, sponsors and advertisers are gearing up to showcase their brands to millions of cricket fans around the world.
Over the years, the IPL has attracted a diverse range of sponsors from different industries, each with its share of the spotlight. From car companies to soft drink companies, the IPL has become a hub for industry giants to showcase their products and services through various #sportsmarketing options.
In this article, we’ll explore the latest IPL 2023 sponsorship trends and strategies, including which categories are advertising the most, which industries are pulling the trigger, and what this means for future of #IPLsponsorships.
Last year, we noticed many significant trends, including a significant number of #startups entering into sponsorship and partnership agreements with the competition. According to an Inc42 article, nearly 29 startups participated in the market.
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There are approximately 173 sponsors and partners across various sponsorship categories including Title Sponsorship, Broadcast Sponsorship, and Team and Partnership Sponsorship.
If you want to know detailed information about these brands, visit our blog: Complete list of IPL 2023 sponsors.
Brands under the clothing category can be divided into casual fashion, activewear, licensed merchandise, men’s underwear as well as footwear. Here are all the sponsors under this category:
As mentioned earlier in the article, factors like funding restrictions and the ban on cryptocurrency advertising contributed to the decrease in the number of startups supporting the IPL this year compared to last year. However, several start-ups have joined the list of sponsors and partners of the series.
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Three lists are presented in the following graphic: the first includes startups that received support or partnership with IPL last year but did not participate this year, the second list of startups that participated in this year’s IPL support or partnership program but did not participate last year, and. The third aspect of the brand that continues to collaborate with the league for two consecutive years.
Tata Group, Dream11, CEAT, Puma, Galaxy Basmati Rice, Joy Care, Vida By Hero, USHA, Max Life Insurance, and Lotus Herbals are among the brands that have chosen to partner with the two – Women’s Premier League and Premier Indian League. .
Finally, despite the global slowdown, the IPL 2023 season has attracted a wide range of sponsors and partners, building on the success of the previous season. The league can create a brand image that appeals to a wide range of companies, from large multinationals to local businesses.
An analysis of potential sponsors and partners revealed a high level of interest in the league, with many companies including niche brands such as Garuda Aerospace looking for sponsorship and partnership opportunities. IPL is clearly a lucrative platform for companies to reach a wider audience and gain exposure for their brand. The success of the series is expected to continue in the coming years, with an increasing number of sponsors and partners eager to be involved in the world’s premier T20 cricket tournament. From mega deals to star partnerships, Indian Premier League is very ambitious. It is expected to be a sporting tournament that fans eagerly await every year.
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As the ultimate cricket spectacle that keeps millions of eyes glued to their screens, the IPL is a mecca for brands to be