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My India First

IPL Sponsors: Ceat retains IPL ‘strategic timeout’ partnership for Rs 240 crore

Tyre producer Ceat has introduced its sponsorship of sure segments of IPL matches, marking an funding of about Rs 240 crore over 5 years.

The Board of Management for Cricket in India has chosen Ceat as an official associate to sponsor sure segments of the IPL matches, with an mixture spend of about Rs 240 crore over 5 years, Ceat Ltd mentioned in a regulatory submitting.

ET reported on February 23, citing sources aware of the matter, My11Circle, RuPay, Angel One, and Ceat have collectively acquired IPL sponsorship slots for a complete sum of ₹1,485 crore.

Ceat retained the strategic timeout partnership for a period of 5 years with a bid of ₹240 crore, the report mentioned. Nevertheless, no bidders had been discovered for the orange & purple cap and umpire partnerships, in keeping with the report.

Out of the six affiliate partnership slots obtainable, the board managed to promote three to My11Circle, RuPay, and Angel One, in keeping with an nameless supply.

Ceat, the flagship firm of the RPG Group, specialises in promoting tyres for two-wheelers, passenger autos, and industrial autos, amongst different merchandise.The IPL is scheduled to kick off from March 22, with the defending champions, Chennai Tremendous Kings, dealing with their southern rivals, Royal Challenger Bangalore (RCB) on the Chepauk stadium in Chennai. The schedule for the primary 21 matches spanning 17 days has been disclosed, whereas the remainder can be decided after the announcement of Lok Sabha election dates.

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