India’s largest realty firm DLF has decided to end its five-year-long association with cricket tournament Indian Premier League (IPL) as the title sponsor and did not renew its contract that was due by last month.
The company, however, said it will promote other sports and is currently exploring various such platforms for association. It had last week gifted the luxury sports utility vehicle ‘Audi Q5’ to four Olympic medal winners from Haryana.
“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,” DLF Group Executive Director Rajeev Talwar said.
The last date for renewal of the contract was July 28 and the company did not do it. The firm has the first right of refusal for title sponsorship of the Twenty20 league, Talwar said.
The company has spent Rs 250 crore in five years for IPL.
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