INDIAN PREMIER LEAGUE (IPL) side the Mumbai Indians have announced a three-year shirt sponsorship deal with insurance company Bajaj Allianz.
Under the agreement, the Bajaj Allianz logo will appear on the back of the team's playing shirts in a deal worth Rs 30 crore ($5.5 million) according to Indian media sources.
The partnership with the Indian insurance firm comes after the previous five-year deal with American financial services company MasterCard came to an end.
This is the second time Bajaj Allianz have acted as a sponsor for an IPL side after being one of the founding sponsors of the Rajasthan Royals during the first tournament in 2008.
Mumbai Indians had already agreed a one-year front-of-shirt sponsorship deal with pay-television operator Videocon d2h, also reported to be worth Rs 30 crore.
The cricket side, owned by businessman Mukesh Ambani, have also signed up Air India, the country’s national carrier as an Associate Sponsor. Its logo will feature on the back of the helmets of Mumbai Indians’ batsmen.
Mumbai Indians have further sponsorship agreements with construction firm Dheeraj Realty and financial company Dewan Housing Finance Corporation.
By Robin Jellis
Follow Robin on Twitter: @robinjellis