The sports sponsorship market in India has experienced exponential growth, with the Sporting Nation 2023 study revealing a remarkable 105% increase in sports sponsorship franchises compared to 2021. The total spending on sports sponsorships surged to ₹59.07 billion in 2022, signifying a burgeoning trend that spans various sectors.
Corporate Sponsorships
Corporate sponsorships have become a pivotal aspect of sports partnerships in India. Teams like Chennai Super Kings and Punjab Kings in the Indian Premier League have secured endorsements from companies such as TVS Eurogrip and Dream11. Renowned cricket captain Virat Kohli notably secured a billion-Rupee sponsorship deal with MRF tyres, showcasing the significance of traditional corporate sponsorships.
Online Casinos and Sportsbooks
The Indian gambling market, projected to reach ₹66.76 billion by the end of 2023, is increasingly entering partnerships with top Indian sports teams. For instance, Nellai Royal Kings signed a title sponsorship deal with Dafanews for the 2023 TNPL competition, reflecting the growing collaboration between gambling brands and sports entities.
Fantasy Sports Platforms
Fantasy sports platforms, particularly those associated with cricket, have embraced sports sponsorships for enhanced visibility. Dream11 which was the title sponsor of the Indian Premier League, secured a three-year lead jersey sponsorship rights for the Indian National Cricket Team, valued at up to ₹3.58 billion. This success underscores the impact of fantasy sports platforms in attracting sponsors and stakeholders.
Government Support and Public-Private Partnerships
Government initiatives, including public-private partnerships, have played a crucial role in fostering sports development at local levels. The Khelo India Scheme, in partnership with the Ministry of Finance, represents a significant investment of ₹87.5 billion until 2026. This initiative supports grassroots sports, enabling athletes to compete globally.
Emerging Trends: Health and Fitness Brands
The intersection of sports and health is evident in sponsorship deals with health and fitness brands. Fast&Up, a prominent health brand, extended its partnership with Mumbai FC as the official nutrition partner for the 2023-2024 Indian Super League season. The undisclosed value of this deal reflects the increasing influence of health-centric sponsorships.
Grassroots Initiatives
Grassroots organizations and brands are actively involved in identifying and supporting young talents. The Reliance Foundation Youth Sports Program, offering scholarships to athletes across various sports, provides financial and training support, personal mentors, and exposure to brand-building platforms. These initiatives contribute to the transformation of aspiring athletes into professional stars.
