Apollo Tyres Becomes Lead Sponsor of Indian Cricket

Apollo Tyres has officially stepped in as the lead sponsor for India's men’s and women’s cricket teams with an unprecedented deal worth Rs 579 crore over three years. This announcement by the Board of Control for Cricket in India (BCCI) comes on the heels of Dream11 exiting its sponsorship due to the recent regulatory changes surrounding online gaming.

Under the new agreement, Apollo Tyres will pay Rs 4.5 crore per match, which is an increase from Dream11's previous rate of Rs 4 crore. The BCCI had faced challenges in finding a replacement sponsor, especially after imposing restrictions on bids from companies involved in gaming, betting, and other specific sectors. However, the strong interest shown by various corporations indicates that Indian cricket remains a highly sought-after brand.

Santosh N, managing partner of D&P Advisory, notes that the limited pool of bidders, due to BCCI's restrictions, played a significant role in Apollo Tyres securing the deal. He pointed out that major Indian corporations, like the Tatas and Birlas, are always on the lookout for such sponsorship opportunities. Apollo's previous hesitation may have stemmed from the knowledge that they weren't the highest bidders in a more competitive field. With fewer bidders now, they seized the opportunity.

This isn't the first time the BCCI has navigated sponsorship changes. Prior sponsors included Sahara, Star, Oppo, and Byju’s, but stability has often been a challenge. The BCCI's strategy of aiming for reputable brands over merely flashy ones signifies a shift in focus towards reliability and long-term partnerships, even if it means lower financial returns.

With the cricket teams gearing up for significant tournaments, including the T20 World Cup and the 50-over World Cup, this sponsorship deal comes at a critical time. Apollo Tyres will also sponsor BCCI’s A and Under-19 teams, further solidifying its commitment to Indian cricket.

BCCI secretary Devajit Saikia expressed enthusiasm about this partnership, emphasizing that it represents more than just a commercial agreement; it’s a collaboration between two entities that have gained the trust and respect of millions. As Indian cricket continues to thrive, partnerships like the one with Apollo Tyres will undoubtedly play a crucial role in its journey ahead.