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

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

May 31, 2024

Tire manufacturer Ceat has announced sponsorship of IPL in certain segments of the tournament with an investment of around Rs 24 crore over five years.

Ceat Ltd In a regulatory filing, the Board of Control for Cricket in India has selected Ceat as its official partner to sponsor the IPL in certain parts of the tournament with a total outlay of around Rs 24 crore over five years.

My11circle, RuPay, Angel One and Ceat have jointly secured 148.5 worth of IPL crore sponsorship slots, according to a news report in The Economic Times on February 23, citing people familiar with the matter.

Reports suggest that Ceat has entered into a five-year strategic pause partnership with a bid of Rs 24 crore. However, Orange and Purple Caps and Umpire Partnership reportedly could not find a bidder.

According to anonymous sources, the board managed to sell three of the six available joint partnership seats to My11circle, RuPay and Angel.

Seat is the flagship company of the RPG Group, which specializes in selling tires for two-wheelers, passenger cars, commercial vehicles and other products.

The IPL is scheduled to begin on March 22 when defending champions Chennai Super Kings take on southern rivals Royal Challengers Bangalore (RCB) at the Chepaque Stadium in Chennai from day one (Chennai Super Kings). The fixtures for the first 21 matches have been announced in 17 days and the rest of the matches will be finalized after the Lok Sabha election dates are announced.

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