The ICC and IndusInd have agreed to a multi-year sponsorship agreement

Description

IndusInd Bank, a renowned Indian financial institution, has signed a multi-year sponsorship agreement with the International Cricket Council (ICC). The collaboration is set to start with the highly anticipated Men's Cricket World Cup, which is expected to begin on October 5th and will showcase the world's top cricketing talent on the Indian subcontinent.

The Impressive Valuation Of The Multi-Year Deal

The value of the multi-year sponsorship deal between IndusInd Bank and the ICC is between $20 million and $24 million (roughly Rs 160 to 200 crore). The bank's significant financial investment demonstrates its commitment to promoting cricket and its global appeal through this esteemed partnership.

Mastercard Has Joined As A Top-Tier Sponsor

Mastercard has also stepped up to become a top-tier sponsor for the upcoming ICC Cricket World Cup 2023, joining IndusInd Bank's exciting announcement. This action demonstrates cricket's widespread appeal and importance on a global scale, as well as Mastercard's commitment to the sport.

A Change In The Landscape Of Sponsorship

An important change in the ICC's sponsorship landscape has led to the news that IndusInd Bank and Mastercard will serve as top-tier sponsors. According to reports, due to financial difficulties, the edtech behemoth Byju's and the digital payments platform BharatPe have decided to prematurely end their affiliation with the ICC.

BharatPe and Byju's are now in the same boat as other tech startups like Unacademy, MPL, and Paytm, which have also reduced their sponsorship expenditures. The reasons for these adjustments are a decrease in private equity funding and a greater emphasis on achieving profitability in a rapidly changing business environment.

The ICC's Outstanding Sponsorship List

Along with prestigious organizations like MRF Tyres, Booking.com, Aramco, and Emirates, IndusInd Bank and Mastercard have now joined an elite group of top sponsors for the ICC. These alliances support the development and promotion of cricket while also demonstrating the sport's enduring appeal and wide-reaching impact.

IndusInd Bank Is A Leading Financial Services Institution In India

Mumbai, Maharashtra-based IndusInd Bank Limited was founded in April 1994. It provides financial services. It is well-known in the financial services industry in India and serves about 35 million customers nationwide. The bank provides a wide range of goods and services aimed at both people and businesses, including microfinance, personal loans, loans for both personal and commercial vehicles, credit cards, and loans for small and medium-sized enterprises (SME).

The bank has a significant footprint across India, operating 2,606 branches and banking outlets in addition to 2,875 ATMs that are strategically positioned to reach 138,000 villages. In addition, IndusInd Bank maintains representative offices in important global hubs like London, Dubai, and Abu Dhabi.

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