Cricket is a very popular sport across the world and sees a lot of focus placed on what happens on the pitch. As is the case with all major sports though, cricket is also a business in the modern age and needs to generate enough revenue for teams, tournaments, and cricketing organisations to keep going.
Official sponsorship deals are one of the most effective ways for the sport to raise significant amounts of revenue each year. Although this sees many organisations from a diverse range of industries sponsor cricket, it’s true to say that certain major industries seem to place more emphasis on this.
But which sectors are the most prominent for sponsoring cricket?
Gambling
Gambling is a huge sector worldwide and generates billions of pounds in revenue each year globally. This has been especially true over the last few decades, where innovations in the industry around online gambling have opened it up to a new audience. From NZ casino platforms to digital sportsbooks in the UK or USA, the rise of online gambling has helped the sector grow.
Major brands within the industry have also been quick to engage in sport-focused sponsorship deals and use this to reach more people. Cricket is a good example and has seen many gambling brands target cricket sponsorship deals.
This includes sponsorship of specific sides in domestic cricket globally, commercial partnerships with organisations like Cricket Australia, or sponsorship for specific tournaments (such as the T20 Blast series or the Mzansi Super League T20).
With the ICC’s recent decision to lift its ban on gambling sponsorship in some of its competitions, even more brands from this sector should strike up agreements for cricket sponsorship.
Financial Services
From sponsoring stadiums (such as the New York stadium being built for the T20 2024 World Cup) to sponsoring competitions, many firms from many sectors choose to divert some of their resources into this area.
When cricket sponsorship is considered on a global basis though, financial services is one industry that’s prominent. This includes many of the top companies worldwide that offer financial or banking services to consumers.
A good example of a company in this industry that has been involved with sponsoring the sport previously is the Indian insurance company, MS Chola. They struck a $1 million sponsorship deal with IPL side Royal Challengers Bangalore in 2022. This saw them become the trouser sponsor of RCB for the 2022 IPL campaign and connect with a whole new audience who might require their services. An ever-bigger agreement was struck in late 2021 and saw crypto exchange FTX pay $24 million to sponsor all major ICC events.
Fashion
The fashion industry is another huge sector globally and one that also has close ties with sponsoring cricket. But what kinds of deals have companies in this industry been striking with cricket teams or events?
One of the most recent was a May 2022 deal between The Hundred Tournament and smartwatch company Xplora. This was worth around half a million and made Xplora the competition’s official smartwatch supplier. This was a multi-year agreement and sees Xplora committed to cricket sponsorship for the foreseeable future.
Massive sportswear company Puma inked perhaps the most eye-catching contract in cricket sponsorship from a clothing brand to date. This saw them announce details of a multi-year deal worth $30 million in 2021, between them and Royal Challengers Bangalore.
Food and Drink
Cricket sponsorship is also dominated by the food and drinks sector. This sees multiple well-known brands in this industry paying to sponsor certain teams, players, and tournaments. As with other industries that choose to do this, the main attraction is the new audience it can put the brand in front of and how powerful this is for their marketing goals.
One of the most famous sponsorship deals in cricket from a company in this sector was the 2019 agreement between Monster Energy and Hardik Pandya. This was worth a reported $4.5 million and made Pandya the energy drink’s brand ambassador for three years.
Domestic cricket in the UK is also home to many sponsorship deals between teams and brands in this industry. Greene King IPA, for example, is an official partner of Essex County Cricket Club, whilst Bidfood are official partners of Lancashire County Cricket Club.
Cricket Sponsorship Dominated by Major Industries
Whilst it’s possible to find cricket sponsorship deals that involve brands from a range of industries, the sectors listed above stand out the most. As time moves on, it will be interesting to see if any other industries follow their lead and put more resources into the sport.
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