Among many professional sports leagues in the world, the Indian Premier League (IPL) is known to be one of the fastest-growing sports leagues. Tracing the period back right from its commencement, i.e. before 10 years, to the current situation, the IPL has presently turned out to be a sight to observe. It is an outstanding event not just for the cricket fans and the cricketers but also for the analysts who stayed intellectually and emotionally devoted to this impressive cricket union.
The IPL history is worth mentioning here. Many cricket fans even regard it to be the voyage of the league’s support. It is also referred to as a detailed study for media vendees and market campaigners. Irrespective of you being an industry specialist surprised by the magnificence of the IPL or simply a fan aspiring for today’s match’s prediction for IPL, it is hard to refuse the truth that this tournament had attained huge admiration in the sports world. Also, it attained huge admiration in the world of economics.
The reason for its success is that only a few professional sports leagues can match the streamlined approach of the BCCI in conducting the IPL every year. Also, just a few commercial institutions can match the transparent approach, which helped IPL progress greatly within a decade.
The IPL has attained 616 crores during the initial 10 years of its prevalence. Moreover, experts are anticipating that it would even develop up to 2,199 crores value in the coming 5 years. In 2008, the real estate developer, named DLF, agreed to a 5-year title IPL sponsorship bond with BCCI. Several people termed this investment by the company as expensive. This is because they considered the IPL following was pretty small at that time. Moreover, the title sponsorship contract with the real estate firm was worth 200 crores. This contract lasted from 2008 till 2012.
Conversely, the smartphone firm of the BBK Group in China agreed to a deal to be the IPL sponsors. The deal was worth 100 crores each year for the years 2016 and 2017. Ultimately, after gaining popularity and seeing the huge potential of the best cricket league in the world, this Chinese smartphone company pumped 439.8 crores for the upcoming five-season sponsorship.
Out of all remaining brands that have already sponsored IPL, currently, Vodafone possesses the record for staying as the brand that collaborates with the league for the longest duration. But many sports analysts notice a difficult track for the brand progressing forward. Along with that, it incorporated many modifications in the mobile industry of India, challenging a few providers.
All through the decade of its prevalence, the 2017 year marked the history for being the greatest number of brands contracted by IPL for sponsorships. In all, 20 various brands sponsored the 10th season of the league. Furthermore, it contains three huge brands within the “presenting” Category. Since its start in the year 2008, we have witnessed a large number of Indian Premier League sponsors vying to be a part of the cash-rich cricket league. Get all the sports news at one place only on Pure Win News.