Hero MotoCorp has opted out of all its cricket sponsorships after it exited Indian Premier League's Mumbai Indians - an association which lasted two years and was a deal worth Rs 80 crore (approximately).
India's leading two-wheeler manufacturer has been a visible and active sponsor of Indian sports. It however recently ended its association with the International Cricket Council and then moved out of being one of the pivotel sponsors of the Indian Premier League.
While some estimates suggest that Hero's exits have cost cricket close to Rs 1200 crore, the company continues to support other Indian sports. It signed a contract with the recently concluded Hockey India League, inked a four-year deal with the International Hockey Federation to sponsor all events played in India and is also associated with prestigeous golf events in the country like the India Open.
An Indian Express report on Tuesday quoted a communication from the company as saying that it remains committed to the interest of Indian sports. "We have been associated with cricket for over two decades, and it is not correct to say that we are now moving away from cricket. We at Hero MotoCorp are engaged in the promotion of several sports including golf, hockey, soccer etc. Our decision not to renew our central contract with IPL and with IPL team Mumbai Indians does not in any way dilute our commitment to cricket as a sport."