Apollo Tyres has won the sponsorship rights of the Indian cricket team. The Gurgaon-based tyre company made a record bid of INR 579 crore. The deal will run for three years. It will cover 121 bilateral games and 21 ICC matches.
Apollo’s winning bid beat Canva and JK Cements. Canva offered INR 544 crore. JK Cements placed a bid of INR 477 crore. The Board of Control for Cricket in India (BCCI) set the base price at INR 3.5 crore for bilateral games. For ICC matches, the base price was INR 1.5 crore. Apollo agreed to pay close to INR 4.77 crore per match.
Dream11 exit opens door for new sponsor Apollo Tyres
The BCCI had to look for a new sponsor after the Dream11 deal ended. The government recently banned all real money gaming companies. Because of the order, the Indian team had no sponsor during the Asia Cup in the UAE.
Apollo Tyres will now get its first exposure in the two-Test home series against the West Indies starting October 2. Before that, its logo will appear during the India A vs Australia ODI series in Kanpur. The games will be held on September 30, October 2, and October 5. The selectors have already picked the India A squad so the jerseys can be prepared in time.
The bidding process took place in Mumbai on Tuesday. Apart from Apollo, Canva, and JK Cements, other companies like Shank Air and Omniyat showed early interest. However, they did not join the final bidding. Apollo’s bid was supported by Mumbai-based WPP Media, which oversaw the valuation.
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There was doubt in the market about the sponsorship tender. Many believed few companies would participate after the ban on gaming firms. But Apollo surprised the industry with a huge bid. The deal is almost INR 200 crore more than Dream11’s earlier contract of INR 358 crore.
With this, Apollo Tyres has secured a landmark partnership with Indian cricket. The company, already present in more than 100 countries, will now gain massive visibility through the Indian team’s global matches
