Muthoot Blue will replace Wrogn as the title sponsor of the Royal Challengers Bangalore for the Indian Premier League (IPL) 2020 season. The deal has been closed and a formal announcement is expected soon.
Virat Kohli-led Royal Challengers Bangalore were the last team left to get the title sponsor on board for the 13th season of the richest cricket league. With the Muthoot Blue signing, all the eight IPL teams have closed their respective title sponsorship deals with almost two months for the IPL 2020 to start.
As part of the deal, Muthoot Blue will replace Wrogn on the RCB team jerseys.
The Muthoot Pappachan Group, headquartered in Thiruvananthapuram, encompasses several businesses, including financial services, automotive dealerships, hospitality, real estate, health care, information technology, precious metals and alternate energy.
The company is different than the Chennai Super Kings’ title sponsors – Kochi based Muthoot Group. Even though both the companies are offshoots of the businesses started by Muthoot Ninan Mathai in 1887.
InsideSport has learnt the deal is closed for over ₹ 16 crore.
InsideSport.co had reported earlier that the IPL sponsorship sales are not affected at all from the present slowdown in the economic sectors. In a sharp contrast to the IPL 2019 season when several teams had to make desperate deals days before the start of the competition at prices far below their expectations, all the eight franchisees are sitting pretty on the sponsorship sales front this year. Most of the IPL inventory is sold out almost two months ahead of the league this year.
The franchisee-title combination for IPL 2020 will read like Kings XI Punjab-EbixCash; Delhi Capitals-Daikin; Rajasthan Royals-Dubai World Expo; Kolkata Knight Riders-Nokia; Mumbai Indians-Samsung; Sunrisers Hyderabad-JK Lakshmi Cement; Royal Challengers Bangalore-Muthoot Blue Group; and Chennai Super Kings-Muthoot Group.
EbixCash-CSK, Dubai World Expo-RR, JK Lakshmi Cement- SRH and Muthoot Blue-RCB are the new tie ups for the IPL 2020, while the other four franchisees will continue with their existing deals.
IPL host broadcaster Star Sports too has sold out over 70% of its on air inventory on lucrative premium.
The IPL 2020 is reported to start on March 29 at Mumbai with the opener featuring defending champions and hosts Mumbai Indians against Chennai Super Kings. Mumbai’s Wankhede Stadium will also host the final on May 24. Schedule has not been announced as yet.