Mumbai: Indian Premier League (IPL) franchise Rajasthan Royals is looking to triple its revenue from sponsorship and ticketing in the next four years, CEO Jake Lush McCrum told ET. “Our focus as a franchise is to scale our controllable revenue streams, which include your core areas like sponsorship and ticketing, but also new streams like our education business, academy proposition, or NFTs,” he said. “We’re aiming to triple our controllable revenue streams over the next 4 years.”

He also stated that Rajasthan Royals has roped in more than 10 new brands this year, including Luminous Power as the title partner. According to market sources, the deal with Luminous is believed to be ₹15 crore for IPL 2023. The franchise has also secured long-term extensions with existing partners including Red Bull, BKT, and Dream11.

“We’ve seen strong growth in both our sponsorship and ticketing revenue streams and look forward to this continuing in years to come,” he noted. Rajasthan Royals, McCrum said, encourages its partners to sign multi-year deals as it enables both parties to unlock the true value potential of a relationship. “We are however happy to start a partnership with a 1-year deal to enable the brand to test out the opportunity, with a long-term extension following after we’ve proved the significant return on investment,” he added.

He conceded the funding crunch in startup space has reduced the number of brands engaging with sports sponsorship this year. Rajasthan Royals, he said, works with YouGov Sport to measure every aspect of partners’ touchpoints during the IPL. He claimed Rajasthan Royals delivered average return on investment of 22x for partners.