Singhania group’s cement brand JK Lakshmi Cement will be the title sponsor of the Indian Premier League team Rajasthan Royals.
JK Lakshmi Cement and Rajasthan Royals have signed the sponsorship agreement. Insidesport.co has reliably learnt that the deal is clicked for ₹10-11 crore for the IPL 2018 season. The cement brand, eyeing to double its sales and profit in 4 years, has reached a multi-year understanding with the IPL franchisee.
JK Lakshmi Cement has a strong presence in Rajasthan. The association with Rajasthan Royals will help the brand further develop a loyal consumer base in the State.
The deal, according to a franchisee source, has been facilitated by Alliance Advertising and Marketing Private Limited, JK Lakshmi Cement’s media agency and cricket’s biggest inventory buyers. Alliance has also been instrumental in Kent RO’s deals with the Kings XI Punjab and Star Sports.
Rajasthan Royals and JK Lakshmi Cement are tight-lipped about the deal. However, a formal announcement is expected soon.
Rajasthan Royals are the fifth IPL franchisee to have signed title sponsors for the 2018 season. While suspense continues about the Kolkata Knight Riders, Sunrisers Hyderabad and Royal Challengers Bangalore lead sponsors; Chennai Super Kings, defending champions Mumbai Indians, Kings XI Punjab, Delhi Daredevils and Rajasthan Royals are sitting pretty with the brands to adorn their team jerseys prominently.
CSK, back in the IPL fold after a two-year suspension, were the first to announce Muthoot Finance as their title sponsors. Mumbai Indians have Samsung on board, Kings XI Punjab have signed Kent RO, Delhi Daredevils will stay cool with Daikin Air-conditioners and Rajasthan Royals are the latest to sign their title sponsorship deal, with JK Lakshmi Cement.
The IPL Season 11 will kick off on April 7 in Mumbai with the tie between hosts Mumbai Indians, who open their title defence against MS Dhoni-led Chennai Super Kings.