IPL new sponsorship deal

This article was last updated on April 16, 2022

Canada: Oye! Times readers Get FREE $30 to spend on Amazon, Walmart…
USA: Oye! Times readers Get FREE $30 to spend on Amazon, Walmart…

IPL’s new deal with Swiggy sees 2022 sponsor revenue pass US$131m

Franchise T20 cricket competition’s new partnership ‘worth more than US$6m a year’.

IPL has filled all nine central sponsor slots for 2022 campaign.

Vivo to pay difference on its cancelled title partnership and Tata’s new US$44m a year deal.

The 2022 Indian Premier League (IPL) is set to generate I₹1,000 crore (US$131,363,200) in sponsorship revenue, Board of Control for Cricket in India (BCCI) secretary Jah Shah has confirmed.

This figure sets a new record for the franchise Twenty20 cricket competition and should see the 2022 IPL bring in the highest-ever overall revenue total in its 15-year history.

Shah told the InsideSport Indian business outlet: “This year we have clocked the highest ever sponsorship revenues. For the record for the first time we will be crossing I₹1,000 crore revenue mark from IPL sponsorships for a single season.”

The IPL has achieved this by selling out all of the tournament’s nine official partner slots and ensuring previous title sponsor Vivo makes up any shortfall in revenue from its cancelled deal.

Report: IPL domestic broadcast rights targeted by Reliance

The latest IPL sponsor to come on board is Indian grocery delivery platform Swiggy Instamart, which is paying as much as I₹50 crore (US$6.6 million) annually, according to InsideSport.

The Swiggy deal comes after the IPL added a deal with payment solution firm RuPay earlier this month and brought in Tata as a new title partner in January.

According to InsideSport, despite Tata’s I₹335 crore (US$44 million) a year deal being worth less overall than the I₹440 crore (US$57.8 million) annual fee Vivo was paying, the IPL will end up earning more due to the fees the Chinese mobile brand is paying to exit its contract two seasons early.

In addition to agreeing to make up the revenue shortfall from any deal with a new partner, InsideSport says Vivo’s IPL contract would have risen in value due to the addition of two new teams. According to the report, the terms of Vivo’s exit means the brand will still pay the BCCI I₹996 Crore (US$131 million) in total over the 2022 and 2023 seasons.