Surge in IPL 2022 Sponsor Revenue Due to New Deal with Swiggy

This record number makes  2022 the year with the highest-ever overall revenue total in its 15-year history. The IPL could make this happen after selling all of the tournament’s nine official partner slots and making sure previous title sponsor Vivo compensates for any deficit in revenue from its cancelled deal.

Jay Shah's Announcement Regarding Sponsorship Income

Shah addressed the InsideSport Indian enterprise outlet regarding the sponsorship income. He said, "This year we have clocked the highest ever sponsorship revenues. For the report for the primary time, we shall be crossing INR 1,000 crores income mark from IPL sponsorships for a single season.”

Swiggy Instamart Becomes Official Partner of Tata IPL 2022

Among the new sponsors, the contribution to be made by the Indian grocery delivery platform Swiggy Instamart seems remarkable. The brand is paying as much as INR 50 crores (USD 6.6million) annually, according to InsideSport. "This partnership brings together India’s undying passion for snacking and its special fervor for cricket. There is no better event than IPL for consumers to sit back and enjoy their favorite snacks and beverages while watching their favored team battle it out on the field," the company stated.

Tata Indian Premier League Chairman Brijesh Patel also said, "We are happy to onboard Swiggy Instamart as an official partner of the IPL 2022." Furthermore, Ashish Lingamneni, Head of Brand at Swiggy commented, “IPL is one of the most celebrated sports leagues in the world, and we are excited to partner with the BCCI to offer a wholesome experience to audiences with our large assortment of munchies, beverages and other snack options through our quick commerce service Instamart. We look forward to engaging with customers/fans and catering to their needs, be it mid-match snack cravings, beverages and popcorn for nail-biting finishes or sweet indulgences to celebrate team victories."

IPL Benefitting From Vivo

Before striking the deal with Swiggy, the IPL set up an agreement with payment solution firm RuPay earlier in March and also welcomed Tata as a new title partner in January. InsideSport further states that Tata’s deal worth INR 335 crores (USD 44million) annually is less than the money Vivo is paying which amounts to a yearly income of INR 440 crores (USD 57.8million).

However, the IPL will make more money due to the fees being offered by the Chinese mobile brand to extricate itself from the contract two seasons early. The IPL has also decided upon making up the revenue shortfall from any deal with a new partner. InsideSport additionally stated that Vivo’s IPL contract might have increased in value because of the introduction of two new teams in the cut. Before Vivo's exit, the company will be obligated to pay the BCCI INR 996 crores (USD 131million) in total over the 2022 and 2023 seasons as per the terms and conditions.