IPL Loses Its Title Sponsor After Five Years, But Company Says It Will Continue In Sports
India's largest realty firm DLF has decided to end its five-year association with cricket's Indian Premier League as the title sponsor "and did not renew its contract that was due by last month," according to the PTI. The company said that it will "promote other sports and is currently exploring" various platforms for association. DLF Group Exec Dir Rajeev Talwar said, "We have just stepped off the IPL. Sponsoring IPL over the last five years was a strategic decision wherein we wanted to establish our brand presence across India as the leading real estate player." Talwar added that throughout the duration of the deal the company has spent Rs 250 crore ($44.9M) on the IPL. Talwar said, however, that DLF "will continue to be very active in promoting sports and encouraging healthy living." When asked if the company has chosen any other sports to pursue, he said that the firm is "assessing what kind of game is emerging in areas where the company has business operations." Talwar: "We are not for any franchise and we will not own any team." In regard to spending on other sports, Talwar said, "There is no limit and we have not earmarked anything, but it will be less than Rs 50 crore ($9M) a year that we spent in IPL" (PTI, 8/28).