The Mumbai Indians have become the first Indian Premier League team to reach Rs100 crore ($14m) in sponsorship revenue, according to local newspaper the Economic Times.
The paper reported that deals last week with hotel loyalty programme Marriott Bonvoy and pipe manufacturer Astral Pipes helped the four-time IPL winner to the milestone.
The Marriott deal was reported to be for three years, beginning in the 2020 season, and to be worth Rs30 crore ($4.2m). The brand also has sponsorship deals elsewhere in sport with Manchester United, Formula One, Bayern Munich, NFL and the NBA.
Both Marriott and Astral will get branding on the team’s kit.
Last year, the Indians agreed a three-year deal with Samsung to be their lead sponsor, worth Rs75 crore ($10.5m).
The team is owned by high profile businessman Mukesh Ambani. R Ramakrishnan, co-founder at Indian sports marketing firm Baseline Ventures, was quoted by the Economic Times as saying the team’s well-known owner contributed to its value as a sponsorship property, as well as its success on the pitch.
A report by consultancy Duff & Phelps last year said the Indians were the most valuable franchise in the IPL in 2019, at Rs809 crore ($113m).
The Indians other sponsors include media company Colours Viacom18, mobile network Jio, beer brand Kingfisher, homeware company Usha, electronics company Sharp, Burger King, fantasy sports company Dream11, audio equipment firm boAt, charitable organisation Reliance Foundation Education and Sport for All, ticketing company bookmyshow, radio stations Radio City and Fever FM 104, sportswear company Performax, entertainment promoter DNA Networks, and whiskey brand William Lawson.