IPL 2020: Mumbai Indians become the first Indian franchise to bag a ₹100 crore deal

IPL 2020: Mumbai Indians become the first Indian franchise to bag a ₹100 crore deal

Four-time Indian Premier League (IPL) champions, Mumbai Indians have managed to add another feather to their list of accomplishments. The IPL franchise has become the first Indian sports club to clinch a ₹100 crore deal. The franchise, owned by business tycoon Mukesh Ambani, has struck the deal with two new sponsors- Marriot Bonvoy and Astral Pipes.

The development was confirmed by a Mumbai Indians spokesperson and reportedly, the club has signed a three-year contract with Marriot Bonvoy. The financial details of the contract weren’t revealed, but according to reports, 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.

Also Read: IPL 2020: What Will Defending Champions Mumbai Indians Offer This Year?

This will be the first time the brand will be associated with an Indian club. It has earlier associated with Manchester United, Formula One, Bayern Munich, NFL and the NBA.

“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 co-founder at sports marketing firm Baseline Ventures, told Economic Times.

Reportedly, the logo of Astral Pipes will be on the non-leading arm of the players. 

In 2019, the Rohit Sharma-led team had inked a deal with Samsung as its lead sponsor for three years, valued at ₹75 crores. Along with this, the other sponsors of Mumbai Indians 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.

MI will begin their IPL 2020 campaign with a high-voltage encounter with arch-rivals, Chennai Super Kings on March 29 at their home, the Wankhede Stadium in Mumbai.

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