Source - indiatimes.com
Car maker Hyundai has become one of the six associate sponsors of the upcoming Indian Premier League (IPL) by buying air time rights from the official broadcaster Sony Set Max.
"Hyundai has bought air time rights for this season of IPL, which will have 59 matches beginning April 18," HMIL Senior Vice-President Sales and Marketing Arvind Saxena told to media
He said Hyundai had bought air time of 200 seconds per match and will have the exclusivity of being the only four-wheeler maker which will advertise on the TV Channel during the matches.
The company was also evaluating the options for the on-ground sponsorship of the matches, Saxena added.
Asked about the deal value, Saxena declined to comment. However, according to industry sources, the advertisement rates for the league are very close to what they were during the Twenty20 World Cup.
During the Twenty20 World Cup, advertisers had paid around Rs two lakh for a ten-second slot. Based on the calculation, any advertiser would end up paying around Rs 23 crore for the IPL matches.
Besides Hyundai, Sony has signed on telecom service provider Vodafone as the presenting sponsor for DLF Indian Premier League (IPL).