BCCI signs IPL sponsorship deal with Wonder Cement worth Rs 250 crore
BCCI) has signed Wonder Cement as the official umpire partner for the Indian Premier League (IPL).
Sources privy to the development said Wonder Cement will pay Rs 250 crore for the deal, which will begin with IPL 2024 play-off games and run until 2028.
Wonder Cement, which replaces Paytm, is the sixth brand to join the IPL sponsor roster this year after Tata Sons, My11Circle, AngelOne, RuPay, and Ceat.
Tata Sons has paid Rs 2500 crore to secure the IPL title sponsorship rights. My11Circle (Rs 625 crore), AngelOne (Rs 410 crore), Ceat (Rs 240 crore), and RuPay (Rs 210 crore) are official IPL partners.
All the sponsorship deals, except RuPay, have a five-year tenure. RuPay has signed a three-year deal that ends in 2026.
Experts say that the IPL sponsorship deal will help Wonder Cements gain brand visibility across India.
Promoted by the RK Group of Rajasthan, Wonder Cement is one of India's top 15 grey cement makers, with operations in the north, central, and west, as well as sales across many regions.
It has a significant presence in North India, where it ranks among the top six cement manufacturers.
The company recorded a net profit of Rs 250 crore and revenue of Rs 6,020 crore in FY23.
According to the 11th edition of GroupM ESP's India Sports Sponsorship Report, India's sports industry grew by 11%, achieving total revenues of Rs 15,766 crore in 2023.
Sports sponsorship revenue increased by 24% to Rs 7,345 crore, owing to significant increases in franchise fees in addition to on-field and team
