IPL 2021 – Rajasthan Royals sponsorship revenue: Rajasthan Royals (RR) will be looking to achieve an increase of 40% in sponsorship revenue in the Indian Premier League (IPL) 2021. The inaugural IPL champions are building relationships with big brands like Jio, Colgate and Red Bull amongst other conglomerates to achieve their target.
Rajasthan, on Wednesday, signed a two-season deal with two-wheeler helmet manufacturer Studds Accessories Ltd as an associate sponsor.
As per the agreement, Studds logo will feature on RR players’ helmets and caps. The manufacturing giant will also produce limited edition Rajasthan Royals riding helmets, which will be available for purchase.
“This partnership not just adds a royal touch to our brand but also helps in further strengthening our commitment towards providing the best safety and quality products as well as services in the country…,” Mint quoted Gaurav Bhola, general manager – sales and marketing, Studds Accessories Ltd.
“At Rajasthan Royals, we are privileged to have the opportunity to work and associate with some of the best brands in the business. We are delighted to be welcoming on-board our new associate partner, Studds Accessories Ltd…,” Mint quoted Jake Lush McCrum, COO, Rajasthan Royals.
However, it is worth noting that Rajasthan are yet to find a title sponsor. In IPL 2020, the franchise were associated with the Hindi news channel TV9 Bharatvarsh.
Meanwhile, Rajasthan has suffered an 8.1% dip in brand value in 2020 from INR 271 crore to INR 241 crore, according to the Duff & Phelps report.
IPL 2021: IPL brand value see dip of 3.6%
The Indian Premier League’s (IPL) brand value saw a dip of 3.6% in 2020 due to the COVID-19 pandemic, according to Duff & Phelps report
The previous year was challenging with economic distress across sectors due to the pandemic and the sports sector also felt the tremors.
As per the findings, the IPL ecosystem value decreased by 3.6% in constant currency terms to INR 45,800 from INR 47,500 crore in 2019.