IPL 2022 Poised To Rake In Record Sponsorship Revenue 

The 2022 Indian Premier League (IPL) is set to rake in over US$130m in sponsorship revenue, the Board of Control for Cricket in India (BCCI) secretary Jah Shah has affirmed.

This huge figure sets a new record for the world’s richest T20 cricket competition, and should see the latest IPL season contributing to the highest-ever overall revenue total in its 15-year history.

Shah told local sports business media outlet InsideSport, “This year we have clocked the highest ever sponsorship revenues. For the record for the first time we will be crossing [the] 1,000 crore (US$131.4m) revenue mark from IPL sponsorships for a single season.”

The IPL has achieved this by selling out all of the tournament’s 9 official partner slots and ensuring previous title sponsor Vivo made up any shortfall in revenue from its cancelled deal.

The latest IPL sponsor to come on board is Indian grocery delivery platform Swiggy Instamart, which is paying as much as US$6.6 million yearly, according to InsideSport.

The Swiggy deal comes right after the IPL added a deal with payment solution firm RuPay earlier this month and brought in Tata as a new title partner in January.

Despite Tata’s reportedly US$44m per year title sponsorship deal being significantly less than the US$57.8m annual investment Vivo was pumping in, the IPL will end up earning more due to the fees the Chinese mobile brand is paying to exit its deal two seasons early.

In addition to agreeing to make up the revenue shortfall from any deal with a new partner, InsideSport says Vivo’s IPL contract would have risen in value due to the addition of two new teams. According to the report, the terms of Vivo’s early termination means the brand will still pay US$131m in total over the next two seasons.

The rise in IPL sponsorship revenue has also been pivotal in sports related sponsorship recovering from the pandemic’s impact and growing a significant 62% in 2021 to reach almost US$1.25b, according to a report by GroupM ESP.