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RISE Worldwide leads IPL 2024 sponsorship with team partnerships worth Rs 300 Crore
It has secured 50% front-of-Jersey inventory and more than fifty brand deals ahead of IPL season.
RISE Worldwide, sports and event management company owned by Reliance Industries, has successfully facilitated multiple marquee deals for the ongoing season of the Indian Premier League (IPL). It has closed team partnerships worth around Rs 300 crore which includes five front-of-jersey deals, capturing about 50% of the coveted inventory for IPL 2024. It has secured over fifty 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, RISE Worldwide.
These deals add to the roster of long-term partnerships previously orchestrated by RISE during IPL 2023, emphasizing the company's unwavering commitment to delivering exceptional value for its brand partners.
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.
RISE Worldwide boasts partnerships with top brands, athletes, and cricket administrative bodies worldwide, including BCCI, ICC, ECB, and Cricket Australia.