Oxigen Services India Ltd will sponsor the new IPL team Gujrat Lions in the Indian Premier League (IPL) this season. Intex Technologies (India) Ltd, a home-grown mobile handset company that owns Gujrat Lions, on Wednesday said it has signed Oxigen as the title sponsor for the current season that starts on 9 April.
Sources says brands have paid between Rs.10 crore to Rs.20 crore for title sponsorships of IPL teams in the past, according to estimates by media planners. For the current fiscal year, Oxigen has set aside Rs.100 crore for sports marketing activities, the mobile wallet company said in a statement.
Gujarat Lions owner Keshav Bansal said, “We are very happy to have a leading brand like Oxigen to be associated with Gujarat Lions as the title sponsor. Considering the synergy between the two leading brands in consumer technology space, it is indeed a value addition to the Gujarat Lions.”
Ankur Saxena , Director and Chief Mentor of Oxigen Wallet, also expressed his views on the new development. “We are delighted to sponsor Gujarat Lions, the “newest” IPL team with the” youngest owner”, He said.
The IPL 2016 is slated to be held from April 9 to May 29.