Tyre Manufacturer TVS Eurogrip becomes CSK’s principal sponsor for the next three IPL.
IPL 2022: The Indian two and three-wheeler tyre manufacturer brand TVS Eurogrip has signed a contract with defending champions of the Indian Premier League (IPL) Chennai Super Kings to become their principal sponsor for the next three IPL seasons (2022-2024).
According to the partnership between the tyre manufacturer and Chennai based IPL franchise, they will launch several initiatives across the country to engage CSK’s humongous fan base.
As per the sources who have their ear close to the development, the three years contract is estimated in excess of INR 100 Crores. With the deal, the TVS Eurogrip brand logo will be displayed on the front of Chennai’s famed jersey in the IPL.
“TVS Eurogrip is delighted to associate with Chennai Super Kings. The jersey branding and sponsorship will increase awareness and recognition for our Eurogrip brand name and visual identity. We look forward to co-creating exciting experiences for trade and our customers with this association,” said P Madhavan, EVP – Sales & Marketing, TVS Srichakra Limited said.
Chennai’s brand image and brand value both suffered a massive wreck after their early exit in the IPL 2020 in the UAE. The brand value diminished and several sponsors parted ways with the franchise.
That was the tough season for the franchise. Getting backlashes all over social media for having players who are aged, however, MS Dhoni believed in his players and promised to make a commendable comeback in the IPL 2021.
Not only they made a strong comeback, but they also left a solid impression over critics arguing over players’ age. As of now, the reports from the field of business say, Chennai Super Kings (CSK) is soon going to be India’s first sports Unicorn.
It will even surpass its parent company India Cements in its valuation and may become the first sports Unicorn if they continue to be on a winning run in the next season.