RISE Worldwide, India’s sports & event management company, has facilitated multiple marquee deals for the ongoing season of the Indian Premier League (IPL). It has closed team partnerships worth around INR 300 cr which includes five front-of-jersey deals, capturing 50 percent of the coveted inventory for IPL 2024. It has secured over 50 brand partnerships ahead of this season.
Among these significant partnerships, Dream11 has joined forces with Sunrisers Hyderabad, Gujarat Titans, Punjab Kings, and Kolkata Knight Riders, while Luminous has taken the spotlight as the front-of-jersey partner for Rajasthan Royals.
“This IPL season has reaffirmed our status as the preferred partner in the Indian Premier League ecosystem. Overall, we have locked over 50 agreements as of now across our various partner teams. We have witnessed an increase of 20 percent in the team sponsorship deals,” said Nikhil Bardia, head of RISE Worldwide.
Commenting on the evolving trends in IPL sponsorships and highlighting the increasing participation of traditional and legacy brands with an eye on long term investments, Bardia said, “The IPL is a hugely successful and dynamic tournament and brand that has continued to evolve not just on the field but off the field as well. Teams no longer look at partnerships with sponsors in just the traditional way. They want to onboard sponsors that are relevant to their fan base and want to engage and involve the fans through the sponsors.”
“Partners are no longer looking at just the commercials. While revenue continues to be important, teams are increasingly adopting a fan first approach, looking to forge partnerships that they think will cater to the interests as well as needs of their fans while also helping the teams to be socially relevant,” Bardia concluded.