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IPL franchises rush to bag sponsorships

Estimates suggest that the franchises will mop up anything between Rs 40 crore and Rs 80 crore from the sponsorships, depending on their past performance.

, ET Bureau|
Mar 15, 2019, 07.44 AM IST
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With the 12th season of the IPL just over a week away, the eight franchises are in the last leg of negotiations to close the few remaining sponsorships. Estimates suggest that the franchises will mop up anything between Rs 40 crore and Rs 80 crore from the sponsorships, depending on their past performance.

The top two teams, Chennai Super Kings and Mumbai Indians, which have signed mostly long-term deals, are expected to earn Rs 70-80 crore, while Royal Challengers Bangalore, thanks to captain Virat Kohli, has been able to garner Rs 50-60 crore this season. The other teams — Kolkata Knight Riders, Sunrisers Hyderabad, Rajasthan Royals, Kings XI Punjab and Delhi Capitals — will end up with Rs 40-55 crore, according to sports marketing executives.

“The two marquee teams still retain the value, whereas others have to work on building the brand,” said R Ramakrishnan, who co-founded sports marketing firm Baseline Ventures. IPL 2019 will kick off on March 23. The BCCI has announced the schedule for the first two weeks only and is expected to unveil the full schedule and venues later this week.

Ambiguity over venues delayed finalising sponsors for some franchises this time. Most of them had to wait for rates to go up till BCCI put to rest speculation over shifting the tournament outside India because of the general elections. Most of the franchises have signed up the main sponsors, with many of them returning, considering that IPL remains the top property with maximum brand recall. MI, owned by Mukesh Ambani’s Reliance Industries, will continue to have Samsung as the principal sponsor with its logo printed on the front of the jersey. Hindi general entertainment channel Colors has taken the back of the jersey. Colors is run by Viacom18, where RIL-owned TV18 owns a majority stake.

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