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SBD Global/May 31, 2013/Marketing and Sponsorship

Telecom Firm Dialog Agrees To Record $6M Sponsorship Deal With Sri Lanka Cricket

Telecom company Dialog Axiata has agreed to one of Sri Lanka’s biggest sponsorship deals with a three-year arrangement supporting Sri Lanka Cricket, according to the DAILY FINANCIAL TIMES. Dialog said that it has "entered into a binding contract" with Sri Lanka Cricket as the official sponsor of the national men’s and women’s cricket team, at a value of Rs. 754M ($6M) plus tax. In a statement, Dialog said, "Under the terms of the contract, Sri Lanka Cricket has awarded Dialog Axiata, the title of 'Official National Team Sponsor of Sri Lanka Cricket,'" covering all tours both in Sri Lanka and overseas, of the national men’s and women’s cricket teams for a period of three years," commencing June 1. Dialog has already paid Sri Lanka Cricket an estimated 40% of the contract "value several weeks ago" (DAILY FINANCIAL TIMES, 5/28). EMIRATES 24/7 reported industry competitor Sri Lanka Telecom Mobitel, which was originally contracted for three years, "will be replaced by Dialog." Many analysts said that Dialog’s "magnanimous bid shows the true expression of enthusiasm it has to promote the much loved sport" in Sri Lanka, with a strong int'l following (EMIRATES 24/7, 5/29).
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