Mumbai Indians (MI), the four-time champions of the Indian Premier League (IPL), has recently signed a whopping sponsorship deal worth ₹100 crores. Subsequently, the team, owned by one of India’s biggest businessman, Mukesh Ambani, became the first Indian sports franchise to clinch a deal as big as one billion. MI has signed the deal with two new sponsors- Marriot Bonvoy and Astral Pipes.
The development was confirmed by a Mumbai Indian spokesperson and it also confirmed 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 ₹30 crores. 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 has signed a deal with an Indian sports franchise.
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As per the quotes in Economic Times, R Ramakrishnan, the cofounder at sports marketing firm Baseline Ventures said, “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.”
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, the IPL franchise has managed to lead the charts for the fourth successive season courtesy the team’s consistent performances on the field.
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Last year in 2019, MI had inked a deal with Samsung as its lead sponsor for three years, valued at ₹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.
