Mastercard, a leading provider of payment solutions has partnered with the International Cricket Council (ICC) as a premier sponsor, for the upcoming 2023 World Cup to be held in India. Alongside esteemed brands such as MRF Tyres, Booking.com, Aramco and Emirates Mastercards investment of $10 million will bring numerous advantages including increased visibility and exclusive benefits, for cricket fans.
Mastercard, the prominent digital payments enterprise, has cemented its role as a top-tier sponsor for the 2023 World Cup in India, an event orchestrated by the International Cricket Council (ICC).
The World Cup is scheduled to unfold from October 5 to November 19. This partnership adds Mastercard to the league of esteemed global associates of ICC, which already includes renowned names such as MRF Tyres, Booking.com, Aramco, and Emirates. The commitment entailed by a global partnership commands a substantial annual investment of $10 million, as informed by reliable sources.
Given the backdrop of the World Cup’s occurrence in India, the ICC is strategically seeking elevated contributions from brands, even in the face of a relatively lukewarm demand for high-value sponsorship assets.
The ICC categorizes sponsors into three tiers, namely global partners, official partners, and category partners. Sponsors reap a multitude of benefits ranging from seamless integration into media coverage and prominent branding within stadiums to access to tickets and hospitality services.
Mastercard’s Chief Marketing and Communications Officer, Raja Rajamannar, expressed the company’s intent to allocate a substantial budget to ensure optimal visibility during the World Cup. Significantly, Mastercard had previously held the title sponsorship for all bilateral matches in India until March.
This presence had been secured through an investment of Rs 3.8 crore per match as the designated title sponsor of the Board of Control for Cricket in India (BCCI). Despite these gains in brand recognition, Mastercard opted not to renew the BCCI partnership in favor of the larger platform provided by the World Cup this year.
Rajamannar asserted, “The most significant event in India this year is undoubtedly the World Cup. Failing to establish a presence there is not an option. However, resource constraints prevent us from being ubiquitous.” This comment was made in response to queries from the media about Mastercard’s interest in the BCCI title sponsorship rights.
The company is poised to launch a brand campaign featuring its ambassador, MS Dhoni. Rajamannar asserted, “Cricket wields substantial influence, transcending geographical boundaries. Our media strategy will encompass not only prominent urban centers but also extend to tier-2 cities.” He emphasized Mastercard’s intention to harness diverse mediums such as television, print, digital platforms, outdoor advertising, and social media to maximize its outreach.
Given the expected surge in cricket-related sponsorship opportunities this year, Rajamannar outlined the company’s strategy. He emphasized the thorough evaluation of available deals and a focus on securing the ones with the most favorable returns on investment. “We will meticulously scrutinize every sponsorship proposition that arises,” he affirmed. “None of these opportunities come without a significant price tag. Consequently, we must judiciously allocate our resources to initiatives that promise optimal returns based on our assessment.”
