MI signs ₹120-crore jersey deal with Lauritz Knudsen
While Lauritz Knudsen and Mumbai Indians have declined to comment on the financial details, the deal is estimated to be worth approximately ₹40 crore per year, totaling ₹120 crore over three years. This agreement surpasses the previous ₹30 crore-per-year deal that the franchise had with the fintech company Slice.
Lauritz Knudsen, formerly known as L&T Switchgear and part of the Schneider Electric Group in India, aims to boost its visibility in the country through its association with the Mumbai Indians.
Effective from the 2025 cricket season, the sponsorship will place the Lauritz Knudsen logo on Mumbai Indians' official jersey, training apparel, and other team assets, reaching the franchise's global fan base of over 50 million.
Experts say that this deal reflects the growing trend of high-value front-of-jersey sponsorship agreements in the IPL. For example, in 2023, Royal Challengers Bangalore signed a ₹75 crore three-year sponsorship deal with Qatar Airways.
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