Delhi Capitals roped in Astral Adhesives and announced them as their brand partner for the upcoming season of Indian Premier League (IPL 2020). Delhi Capitals, the Indian Premier League franchise co-owned by JSW and GMR, aims to net Rs 60 crore in sponsorship funds this year.
The team has three long term brand tie-ups locked in. Principal sponsors for the Delhi Capitals include consumer durables brand Daikin, Lotus Herbals, EbixCash, and Jio Digital. While the 2020 season is the last with Daikin which has been a long time sponsor of the team, both Lotus Herbals and EbixCash are on board till 2021.
Delhi Capitals took to Twitter to announce their new official partner Astral Adhesives for the IPL 2020.
? ANNOUNCEMENT ?— Delhi Capitals (Tweeting from ??) (@DelhiCapitals) September 13, 2020
We're delighted to welcome @AstralAdhesives as our official partner for the upcoming #Dream11IPL!
Here's to us building a strong 'bond' together as we embark on a new season ?? pic.twitter.com/5yONCWeMf2
“We looked at the 2019 season as the first season for the Delhi Capitals; a fresh start on all counts. This did affect our sponsorship chances last year a bit, but we had some long term partners like Daikin already on board. Given our performance last year, brands are showing keen interest. Despite the slowdown, we have managed to get up to a 25% increase in our sponsorship rates. We should be able to hit Rs 60 crore solely in sponsorship revenues this season,” Dhiraj Malhotra said who is a chief executive officer of Delhi Capitals.
“Ideally, we would like to have fewer sponsors at a premium so that the team and the brands can get the most from the association. Most of the partnerships we sign are for three years, with a few having the provision to extend for two more years,” he added.