The Board of Control for Cricket in India (BCCI) has added credit card payment app Cred as the latest sponsor for its Twenty20 cricket franchise tournament, the Indian Premier League (IPL).
The deal will run for three seasons, through the 2022 edition of the competition.
The brand becomes the latest addition to the IPL sponsorship portfolio ahead of the 2020 season, which begins on September 19 and will be held in the United Arab Emirates, due to the impact of the Covid-19 pandemic in India.
It follows the signing of Indian edtech firm Unacademy as an official sponsor of the league, also on a three-season deal. That agreement is thought to be worth R40 crore ($5.37m) per season.
In August 2020, IPL launched a tender for its title sponsorship rights for 2020 after the suspension of its deal with Chinese smartphone brand Vivo due to political tensions between India and China.
Fantasy gaming platform Dream11 ultimately secured the rights for a sum of R222 crore ($29m).
John Stephenson
john@cricketinvestor.co.uk
#Cricketnews #Cred #BCCI #IPL
