Hero Honda Closing in on IPL’s Mumbai Indians Sponsor

Hero Honda, the Indian two-wheeler giant, has reportedly signed on as the lead sponsor of the Nita Ambani owned Indian Premier League (IPL) cricket franchise the Mumbai Indians, replacing consumer electronics major Videocon.

The deal which will last for three-years, involves sponsorship money of around US$15.5m, The Economic Times quotes an executive with a media buying firm as having said. Videocon had signed a three-year deal with Mumbai Indians for an estimated figure of just over half that amount last year.

However, a source close to the developments told SportzPower that nothing has been “finalised” as yet since the talks were still on.

Hero Honda was the lead sponsor of Delhi Daredevils for the past three years and had decided against continuing its association with them, which prompted the Daredevils to sign up Muthoot Group as their lead sponsor.