Dialog seals biggest ever sponsorship deal with Sri Lanka Cricket
Telecom giant Dialog Axiata has successfully sealed the country’s biggest sponsorship deal with a three year arrangement supporting Sri Lanka Cricket.
The Daily FT first revealed the deal on 13 February 2013.
As per a filing to the Colombo Stock Exchange (CSE) made on Thursday but posted on the CSE web site yesterday Dialog said 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. 754 million plus taxes.
“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 from 1 June 2013,” the statement said.
The Daily FT learns that Dialog has already paid Sri Lanka Cricket an estimated 40% of the contract value several weeks ago.
The Dialog announcement apparently ends confusion or bitter tussle for glory over the sponsorship of Sri Lanka Cricket, the much loved game of Sri Lankans.
Whilst Dialog won the bid by virtue of its highest offer of nearly Rs. 1 billion when taxes are included, the Sri Lanka Tea Board too submitted a lower bid and had been lobbying for an equal share of the sponsorship.
The original bid which closed in early February drew national and regional interest.
Dialog will be replacing industry competitor Sri Lanka Telecom Mobitel, which was originally contracted for three years in a deal estimated to be worth US$ 3 million and subsequently extended by another year.
Many analysts described Dialog’s magnanimous bid as a true reflection of the passion it has to promote the most loved sport in Sri Lanka with a strong international following.
Sri Lanka leads the ICC rankings in the T20 format, is placed sixth in ICC Test rankings and fifth in the ODI rankings.
Sports sponsorship and marketing analysts noted that Dialog, a major supporter of sports, had pitched for Sri Lanka Cricket as it is the biggest national asset of the country with worldwide appeal. Dialog which has a customer base of over 7.5 million subscribers, via the deal, will ring more hearts as cricket is Sri Lanka’s pride and passion.
Dialog Axiata last year came forward to sponsor Sri Lanka Rugby at international and local level in an exclusive five-year deal. This included the Sri Lanka 15-a-side National Team, and the ‘A’ Division Club Rugby League and Clifford Cup Tournaments.
Dialog is renowned for being closely associated in developing school cricket, athletics, football, rugby, volleyball, rowing and disabled sports, and has sponsored national contingents to international events, including the Olympics, Paralympics, Commonwealth, Asian, SAF, and FESPIC Games.