IPL 2020: Team sponsorships breach ₹ 500 crore mark

The Indian Premier League business has defied the economic impact of the COVID-19 pandemic. A grim scenario that has left most of the industries bleeding financially, the Board of Control for Cricket in India’s professional T20 League has witnessed an unprecedented brand support.

The IPL this year is being staged in the UAE due to the COVID-19 spread in the country. That, however, has not lowered the sponsors’ interest in cricket’s biggest commercial property.

The IPL 2020 season, according to ESP Properties, has breached the ₹ 500 crore sponsorship mark.

The IPL continues to carve a niche for itself in India while also keeping its fans engaged, ESP Properties has said.

The ESP has been instrumental in negotiating and facilitating sponsorship deals for multiple brands in different categories. The deals for the likes of Paytm, Colgate, Myntra, Lifebuoy, Cadbury Dairy Milk, Clear Shampoo, Acko Insurance, MPL, Center Fruit and Tata Tea – Chakra Gold amongst others have been weaved in by the renowned media buyers.

Vinit Karnik, Business Head, GroupM ESP Properties said, “Sport is a universal language that connects everyone. While Cricket in the country returned with IPL – India welcomed it with a tremendous fervour despite the games being delayed and in a ‘no-live audience’ scenario.

“GroupM played a pivotal role in closing central and team sponsorships deals this year which goes to show that in a pandemic like this, brands have leveraged IPL to communicate their brand stories in the best way possible. With the heartfelt connection that our country has with the IPL phenomena, the fans made sure that they loyally and virtually welcome the games making sure that COVID-19 does not impact their vibe.”

Admin Sportz Front

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