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CEAT Tyres to sponsor IPL strategic timeout

 AugusWild
  53
 May 29, 2024

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Kolkata: CEAT Tires, the flagship company of RPG Enterprises, has signed a three-year strategic moratorium sponsorship deal with the Indian Premier League partnership (IPL) at an estimated cost of Rs 150 crore. According to sources, CEAT Sam’s deal with the Board of Control for Cricket in India Balsara Madison Company World and Sunil Gavaskar is being promoted by the professional management group. It covers the 8th, 9th and 10th seasons of IPL.

At the time of writing, IPL Chief Operating Officer (COO) Sundar Raman and RPG Enterprises Chairman Harsh Goenka ET had not responded to messages sent. Each IPL match contains 4 strategic time limits of 2.5 minutes each. The money earned from them also goes into a central revenue pool shared by the teams. Sources said CEAT was recognized as a strategic suspension partner after the IPL steering committee meeting last month.

In 2010, handset maker Maxx signed a three-year strategic moratorium partnership agreement, but pulled out after two years in 2011. Sources said Maxx mobile had paid Rs 250-300 crore for two years although Maxx mobile agreed to pay Rs 600 crore over three years. Since then, IPL has not suspended its partner strategy.

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