Mumbai Indians onboards fintech unicorn Slice as principal sponsor
Fintech unicorn Slice was announced as Mumbai Indians’ (MI) principal sponsor for three years on Thursday. Seen as the biggest sponsorship deal for any Indian Premier League (IPL) team in its 15-year history, the three-season deal has reportedly been pegged at around INR 100 crore.
The association will see Slice’s logo appear on the front of Mumbai Indians’ official jerseys, and will be the company's first foray into sports sponsorship.
It’s time to open the innings with our new principal sponsor @sliceit_ 🤝
Paltan, let’s give a MI style welcome to the latest member of our #OneFamily 💙
#MumbaiIndians @ImRo45 @surya_14kumar @Jaspritbumrah93 twitter.com/sliceit_/statu… https://t.co/tCxR1wy0ZB
Mumbai Indians's Slice sponsorship deal breaks IPL record
Prior to Slice, the biggest sponsorship deal in the IPL was between Chennai Super Kings (CSK) and TVS Eurogrip, where the tire manufacturer had committed close to INR 75 crore over three years.
With this partnership, the Bengaluru-based brand will be wishing for a slice of MI’s storied good fortune in the IPL. The Reliance Industries-owned team has been the most successful squad in the series' history, with five titles to its name.
Commenting on the partnership announcement, Slice founder and CEO Rajan Bajaj said:
“There is definitely zero correlation between a financial product and a cricket team. However, there are a lot of similarities between two teams who are relentlessly seeking for championships. Being one of the most successful teams in the IPL with 5 titles to its name, Mumbai Indians inspires not only millions of its fans, but also entrepreneurs like me with the team’s passion, focus, and persistent spirit. It’s the shared hunger for winning and excellence that bring us together.
He added:
"With cricket being at the heart of Indian culture, we will together bring more excitement to this vibrant culture as well as take it to all the cricket lovers around the world.”
Meanwhile, a Mumbai Indians spokesperson said:
“We wanted to partner with a brand with whom we shared common values. Innovation, technology and a fan-centric approach are core values for Mumbai Indians as well as Slice. We both share the vision of offering our fans a world-class experience with the drive and enthusiasm to be the best.”
Slice entered the coveted unicorn club after raising $220 million in its Series B fundraise co-led by Tiger Global and Insight Partners in November 2021. It claims to have over seven million registered users and registered a 40% month-on-month growth.
The MI spokesperson went on to say:
“This deal is testament to how a millennial brand like Slice trusts us as their preferred partner to connect with their young customers. It is truly about making a difference in the way cricket and financial products are perceived by our millennial and Gen Z fanbase.”
Slice is the fifth brand to feature on the front of the MI jersey. Past principal sponsors for the team have included the likes of Idea, Hero, Videocon D2H, and Samsung.