JK Lakshmi cement and IPL franchise Rajasthan Royals have extended their title sponsorship deal for the next five years. The cement company became official title sponsor of 2008 Indian Premier League champion last year at the price of 11 crore and SportsMirchi has learnt that this year the contract is increased to 14-15 crore rupees.
“We are pleased to extend our contract with Rajasthan Royals for upcoming years. We had excellent season with Royals as title sponsors of the team last year and thus we’re carrying on with the franchise,” JK Lakshmi cement source told Sports Mirchi.
However neither Rajasthan Royals nor JK Lakshmi Cement have announced the understanding details over social media and their official websites. JK Lashmi cement is popular in Rajasthan state and has strong base in the region. Thus carrying forward their relationship with Jaipur based Indian Premier League franchise would help Singhania group cement brand to promote themselves more in the state.
Former IPL team franchise Rising Pune Supergiants owners are also interested in buying stakes of Rajasthan Royals team. Royal’s have become fourth team in the league to retain title sponsorship after Chennai Super Kings (Muthoot), Kolkata Knight Riders (Nokia) and Delhi Capitals (Daikin).
The 12th season of Vivo IPL is kicking off on 23 March 2019 as title defenders Chennai Super Kings to take on Rajasthan Royals in the first match of season. Rajasthan will play their opening game of 2019 IPL against Kings XI Punjab on 25th March at Sawai Mansingh Stadium in Jaipur.