Delhi Capitals team will don the logo of co-owner JSW as the Indian Premier League franchisee from the national Capital did not find a viable deal to replace air conditioner brand Daikin.
The 50% partner in the team ownership, the Jindal Steel group brand will now also be the Principal Sponsor of the team.
Daikin has opted out of the deal after five years since the rescheduling of the IPL 2020 during September-November made little marketing sense for the air conditioner brand.
Daikin was reportedly paying ₹ 15 crores for its logo presence on the front jersey of the Delhi Capitals’ match and practice kit.
According to business publication Live Mint, the JSW deal is valued after discounting the additional deliverables which cannot be offered due to the league being shifted to the UAE and strict COVID-19 protocol measures in place.
“JSW got a slight discount over what Daikin was paying because of no ticket sales, no meet and greet. But we’ll be showcasing our steel, cement and paints brands during IPL and we will be advertising also on Star and Hotstar,” Live Mint has quoted JSW Group’s Parth Jindal as saying.
JSW Group had acquired 50% stake in the Delhi Daredevils team in 2018 for ₹ 555 crores. The IPL franchise was subsequently rechristened Delhi Daredevils.
The Delhi Capitals team has assembled in Mumbai today (Thursday) for departure to the UAE.
The team this year has also roped in EbixCash as a new brand partner for the back jersey of the team.
Lotus Herbal is the other key sponsor. The team for the second successive year will support the Female cosmetics brand’s logo on the chest branding.