Kolkata: CEAT Tyres, the flagship company of RPG Enterprises, has signed a three-year strategic timeout sponsorship deal for the Indian Premier League (IPL) for an estimated Rs 12-15 crore per year, a top media planner said. The deal between CEAT and the Broad of Control for Cricket in India was facilitated by Professional Management Group, owned by Sam Balsara’s company Madison World and Sunil Gavaskar, sources said. It will cover IPL seasons 8, 9 and 10.
Each IPL match includes four strategic timeouts of 2.5 minutes each. Money earned from them goes to the central revenue pool that is shared by the teams as well. Sources said CEAT was finalised as the strategic timeout partner following an IPL governing council meeting last month.
In 2010, mobile handset manufacturer Maxx had signed a deal to be strategic timeout partner for for three years, but pulled out in 2011 after two years. While it had agreed to pay Rs 60 crore for three years, Maxx mobile paid Rs 25-30 crore for two years, said a source. Since then IPL did not have any strategic timeout partner.
