PRIVATE INDIAN BANK Yes Bank has been named Official Financial Services Partner of the Indian Premier League (IPL) in a five-year deal.
Yes Bank will be a central partner of the IPL Twenty20 cricket tournament between 2013 and 2017 and will replace Citi as the competition’s previous sponsor in the financial services category.
Yes Bank joins mobile telecommunications company Vodafone as the only other central sponsor currently signed up for the next five years, other than the IPL’s title sponsor Pepsi.
PepsiCo further extended its presence in the IPL this week after agreeing pouring rights deals at the stadiums of eight of the nine teams participating in this year’s series. The Mumbai Indians is the only team not to have agreed a deal.
PepsiCo’s activation with the Delhi Daredevils will be led by both Pepsi and 7Up; Kolkata Knight Riders and Pune Warriors will be led by Pepsi; Rajasthan Royals and Kings XI Punjab by Mountain Dew; and Chennai Super Kings, The Sunrisers Hyderabad and Royal Challengers Bangalore by 7Up.
“We are thrilled to announce our association with the eight franchise teams and will continue to build a campaign that will change the face of sport sponsorships and activations in India,” said Gautham Mukkavilli, CEO of PepsiCo India Region Beverages.
PepsiCo secured the title sponsorship rights to the IPL in November 2012 and will pay $72.5m over the next five years.
Announced Friday, Indian media company STAR India will also become an Official Partner of the IPL. The company's STAR Plus brand will be the focus of activations.
By Robin Jellis
Follow Robin on Twitter: @robinjellis