Reliance Industries-owned sports marketing company Rise Worldwide has inked 60 deals worth Rs 400 crore for this season of the Indian Premier League (IPL), a top company official has said.

“We have closed well over 60 deals as of now, which excludes Mumbai Indians’ deals, a spike of more than 30% over last season. The deal value is over Rs 400 crore for this season alone. This includes the valuation of only this season for the multi-year deals done by us,” Nikhil Bardia, Head of Sponsorship Sales & Talent Management at Rise Worldwide, said.

Bardia said that the average ticket size of sponsorship deals done by the company is Rs 5 crore.

He further stated that the company has done nine multi-team deals, including Jio, Viacom18, Campa Cola, Dream11, Fancode, Rario, BKT Tyres, Bira, and boAt. “We work exclusively with Gujarat Titans for its 26 brands on board. Some interesting deals include Luminous and the Rajasthan Royals front jersey,” he stated.

According to Bardia, Rise Worldwide’s focus was to unlock value for brands across multiple teams.

“We feel that India is many Indias, and brands should know how they can be associated with multiple teams and yet bring out a different flavour with multiple narratives,” he stated.

Bardia noted that a lot of traditional businesses are taking over the sponsorship assets vacated by start-up brands.”The strength of the IPL is so strong that even with the startups getting less on the bandwagon, the traditional brands have still been able to pay that value for it. Third, the new categories that have come in are NFTs, content, and pouring,” he stated.

Rise Worldwide recorded operating revenue of Rs 96 crore on a net profit of Rs 13 crore in FY22.

Earlier, JSW Sports had stated that it had cracked sponsorship deals worth Rs 250 crore across sports in FY23 since it ventured into the sponsorship consulting space.

ITW Catalyst has also said that it has done sponsorship deals valued at Rs 150 crore for the 2023 season of the IPL and the Women’s Premier League.