Team India jersey deal not overpaid as it carries a premium: Vice Chairman Neeraj Kanwar

New Delhi: Apollo Tyres, which is paying ₹579 crore to sponsor the Indian cricket team’s jersey till March 2028, has said it has not overpaid, arguing that marquee sports properties such as the India jersey carry an inherent premium. “Obviously, there’s a premium to it. But when you get into a bidding process, you will add a premium, and the jersey commands that,” Neeraj Kanwar, vice chairman and MD told ET.

The Board of Control for Cricket in India (BCCI) had invited bids for the front-of-jersey slot after Dream11’s exit following the government’s ban on real-money gaming.

Despite concerns of a muted response in a cautious advertising market, the bidding process saw Apollo offer 62% more than the ₹358 crore Dream11 was paying, reaffirming the enduring appeal of the Indian cricket team’s jersey.

Apollo Tyres outbid online design and publishing platform Canva, and JK Cement who had submitted offers of ₹554 crore and ₹477 crore, respectively.

On a per-match basis, Apollo will pay ₹4.5 crore for bilateral and Asia Cup games, and ₹1.72 crore for ICC events, compared with the base price of ₹3.5 crore and ₹1.5 crore. The base price itself was higher than the ₹3 crore and ₹1 crore per match that Dream11 had paid for bilaterals and multilaterals, respectively. While the property delivers visibility, it has also carried risks for sponsors. Four previous front-of-jersey partners, including Byju’s and Dream11, faced challenges during their association, giving rise to what is often described as the “jersey curse.”

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Kanwar, however, dismissed such concerns. “I’ve been cautioned about it, but Apollo Tyres is a strong institution. We employ 19,000 people, have a strong brand, and leadership. I don’t see us in that bucket. That’s why BCCI tied up with us-an Indian company with reliable products and a trusted brand,” he said.He added that the partnership is aimed at more than visibility, pointing out that consumers place deep trust in Team India’s blue jersey. “It will create more sales, expand distribution and gain us more market share,” he said, adding that the deal would help Apollo deepen trust and further extend its footprint into semi-urban and rural markets, where television and digital ensure cricket’s reach.Apollo has a longstanding history of sports sponsorships in India and overseas, most notably a 13-year association with English Premier League club Manchester United, which was extended by three years in June.

Kanwar said the BCCI deal is also a long-term bet. “We don’t believe in short-term relationships. Even through ups and downs, we’ve continued with Manchester United. Our vision with the BCCI is also long term,” he said.

The company plans consumer-focused activations to leverage the association and will also rely on brand ambassador Sachin Tendulkar to amplify its message. “Sachin is the face of Indian cricket. No better person to wear our jersey,” Kanwar said.

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