RCB sign whopping Rs 75 crore deal with Qatar Airways as their title sponsors

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IPL side Royal Challengers Bangalore (RCB) has signed Qatar Airways as its title sponsor for three years in a ₹75 crore deal. "According to a person aware of the deal, this is the second-largest deal in the history of IPL sponsorships," Mint has reported.

Qatar Airways, which recently signed Bollywood actress Deepika Padukone as its global brand ambassador, will replace one of the largest NBFC's in India Muthoot FinCorp, as the main sponsor of the Diageo-owned Bengaluru franchise of the Indian Premier League (IPL). As per the deal, the airline’s logo will appear on the front of the RCB players’ jerseys.

“The deal has been signed, and the announcement will be made in a couple of weeks," the person cited above said on the condition of anonymity. “It’s worth ₹75 crore for three years, the biggest deal for RCB ever."

In 2022, Reliance-owned five-time champions Mumbai Indians (MI) signed a similar three-year deal worth over Rs 90 crore with Slice, a fintech company. Prior to the Slice deal, four-time champions Chennai Super Kings (CSK) and the TVS Group’s Eurogrip had signed a ₹70 crore-plus deal for three years.

Considering that RCB haven't won a title till date the franchise is being praised for its brand valuation and massive fan base. Experts have also opined that "this is also the power of Brand Virat on display to a good degree".

The IPL 2023 kicks off from March 31 with defending champions Gujarat Titans (GT) taking on CSK. RCB are scheduled to play their first match against Mumbai Indians (MI) on April 2 at their home ground M Chinnaswamy Stadium in Bengaluru.