Reliance Owned Sports Marketing Business Signs Numerous Deals Worth Rs.400 Crore For IPL 2023
Rise Global, a Reliance Industries-owned sports marketing business, has signed 60 deals worth Rs 400 crore for this season's Indian Premier League (IPL), according to a top company executive.
"We have concluded well over 60 agreements as of now, excluding Mumbai Indians deals, a greater than 30% increase over previous season. For this season alone, the transaction value exceeds Rs 400 crore. This includes only this season's valuation for multi-year deals completed by us "Rise Worldwide's Head of Sponsorship Sales & Talent Management, Nikhil Bardia, stated.
According to Bardia, the average ticket size of the company's sponsorship arrangements is Rs 5 crore.
He also added that Jio, Viacom18, Campa Cola, Dream11, Fancode, Rario, BKT Tyres, Bira, and boAt were among the nine multi-team transactions completed by the organisation. "We solely deal with Gujarat Titans for its 26 brands. Luminous and the front jersey of the Rajasthan Royals are two noteworthy transactions "He expressed this.
Rise Worldwide's aim, according to Bardia, was to unlock value for businesses across various teams.
"We feel that India is many Indias, and brands should know how they can be associated with multiple teams and yet bring out a different flavour with multiple narratives," he stated.
Bardia noted that a lot of traditional businesses are taking over the sponsorship assets vacated by start-up brands.
"The strength of the IPL is so strong that even with the startups getting less on the bandwagon, the traditional brands have still been able to pay that value for it. Third, the new categories that have come in are NFTs, content, and pouring," he stated.
In FY22, Rise Global reported operational revenue of Rs 96 crore and a net profit of Rs 13 crore.
JSW Sports had announced that it has secured sponsorship deals worth Rs 250 crore across sports in FY23 after entering the sponsorship consultancy industry.
ITW Catalyst has also announced sponsorship arrangements worth Rs 150 crore for the IPL and Women's Premier League's 2023 seasons.