Indian Premier League (IPL) franchise Royal Challengers Bangalore (RCB) has reportedly signed a new three-year title sponsorship deal with Qatar Airways. Reportedly, the deal will be worth ₹75 crores and will last for a three-year span, making it the second-largest sponsor deal in the history of IPL.
Qatar Airways will be replacing financial organisation Muthoot FinCorp, as the main sponsor of the team. In this deal, the Qatar Airline logo will appear on the front of the RCB jerseys.
“The deal has been signed, and the announcement will be made in a couple of weeks," the source said under anonymity. “It’s worth ₹75 crore for three years, the biggest deal for RCB ever," The Mint quoted its source privy to the development.
Talking about the biggest sponsorship deals in the IPL, the Reliance-owned Mumbai Indians inked a three-year deal with a fintech company, Slice worth over ₹90 crores. Similarly, Chennai Super Kings also joined hands with TVS Group’s Eurogrip, signing a ₹70 crore-plus deal for three years.
The source quoted in the Mint’s report stated developments like these will be IPL cement its spot as one of the biggest leagues in the world. “It is heartening to see that more and more international brands are acknowledging the value of an Indian tournament. This will make other global brands also partner with IPL - either with the teams or with the IPL overall — which will be a good sign for the entire ecosystem," the person quoted said.
Talking about Royal Challengers Bangalore, RCB had another solid season which once again ended with a disappointing result in the playoffs. The Faf du Plessis-led side lost to the runners-up Rajasthan Royals in the second qualifier. RCB made some major moves in the mini-auction and will hope to finally win the title in the 2023 season.
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