May 29, 2009 (LBO) – Sri Lankan celco Mobitel will spend 557 million rupees (4.85 million US dollars) in a four year sponsorship of the island’s cricket team, the company’s parent, Sri Lanka Telecom (SLT) said. SLT said in a stock exchange filing that the deal, one of the largest announced by a Sri Lankan firm, started from May 26, 2009 and will run till May 25, 2013.
Clothes worn by the Sri Lanka cricket team will carry the Sri Lanka Telecom – Mobitel logo for four years.
Mobitel will invest the money, or equivalent rupee value, for a period of four years starting from May 26, 2009 to May 25, 2013 in the project.
It said it sees the deal “as a strategic marketing investment to enhance the Mobitel brand.”
Sri Lanka’s mobile sector is in now in highly competitive and individual cricket players have endorsed various cellcos.
Cricket is the island’s most successful international sport. Other firms, including Dilmah, an export tea brand has sponsored the Sri Lanka cricket team before.
The tea firm reportedly paid two million dollars over three years.