ICC extends multi-million dollar sponsorship deal with Coca-Cola
Cricket Council (ICC) and Coca-Cola have extended their global multi-million dollar sponsorship agreement for another eight years, covering ICC events across Test, ODI, and T20 formats until the end of 2031.
While the financial terms of the deal have not been disclosed, sources close to the development say that the eight-year sponsorship agreement could be worth over $100 million, or $12.5 million per year, a significant increase from the $8–10 million that global partners presently pay per year.
The ICC said that the collaboration with Coca-Cola would be one of the longest-ever associations formed by the ICC with a single brand, spanning a total timeline of 13 years (2019–2031).
ICC, which earns a major chunk of its revenue from media rights and sponsorship, recorded a total revenue of $432 million for the fiscal year ending December 2022.
As per the partnership, The Coca-Cola Company’s brands become exclusive non-alcoholic beverage partners.
The agreement includes all men’s and women’s events at the pinnacle of the sport, including the ICC Cricket World Cups, ICC T20 World Cups, and ICC Champions Trophies through to the end of 2031.
During the partnership period, there will be both a major international men’s and women’s event every year as well as a World Test Championship Final every two years.
ICC Chief Commercial Officer Anurag Dahiya said, “I am thrilled to welcome back The Coca-Cola Company as an ICC Global Partner as we enter a landmark eight-year partnership, which unites one of the world’s leading brands with the second largest sport in the world. This long-term collaboration usher in a new commercial era filled with exciting prospects for the sport.
