It’s a big summer of sport: the Paris Olympics start at the end of this month; the ICC T20 Cricket World Cup has just finished; and the UEFA Euro 2024 tournament is just getting into the business end of the tournament.
If, like me, you’ve been watching either of the latter over recent weeks, you may have noticed the prevalence of large Middle Eastern companies as major sponsors of both events with Aramco, Emirates and DP World all featuring as ‘Premier Partners’ for the cricket and Qatar Airways is similarly prominent at the football, as UEFA’s ‘Official Carrier’.
Think of the eyeballs! Whilst the Euros might seem like the bigger deal given the all-encompassing hoo-ha that comes with any football tournament these days, the combined populations of more than 1.85 billion people across the subcontinent means that the T20 World Cup has much bigger (and more fervent) audience, and that’s before you consider the fact it was held for the first time, partially, in the USA in order to try and break into sport’s – and business’s – most lucrative market.
Regional brands boost cricket’s rise
This is further underscored by Emirates, DP World, Aramco, Qatar Airways and even NEOM all being active in sponsorship across the Indian Premier League which is now the world’s 4th richest sports league (after the three US behemoths of the NFL, NBA, MLB). Indeed, Saudi Arabia is rumoured to have bid more than $5 billion to buy into the IPL as it looks to further build out its sports portfolio and reach.
Of course, these regional companies are all heavily involved and invested in sports teams and leagues across the world but what does this particular focus on cricket tell us? Firstly, the sponsorship field is less crowded: Coca-Cola was a ‘Global Partner’ at the T20 World Cup, but it’s noticeable that it’s the only erstwhile multinational on the list. Can you see the likes of Heineken, Samsung, Alibaba, Omega or Hisense getting into cricket? This not only leaves more room but also by extension, you’d assume, would make for more economical involvement.
Secondly, as witnessed in the English Premier League at the moment with multiple ‘financial fair play’ challenges regarding clubs’ spending and revenue patterns, the IPL doesn’t seem to have such strictures so these firms and entities can invest without the risk of being subsequently caught up in vexatious legal wrangling.
And finally, it both mirrors and furthers the Middle East’s subcontinental love-in. What better way to engage with key trading partners, major sources and destinations of investment, primary diasporas and key security partners than by visibly and actively participating in their favourite sport?
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