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Indian football is facing a significant setback as Hero MotoCorp, a prominent two-wheeler manufacturer, has chosen not to renew its sponsorship deal with the sport, including the Indian Super League (ISL), Khel Now has learned.
Internal Issues Behind the Move
Sources close to the matter have cited internal issues as the reason behind Hero MotoCorp’s surprising withdrawal from football sponsorship. While the company has been under scrutiny due to an ongoing Enforcement Directorate (ED) investigation, sources indicate that this decision is unrelated to the investigation.
The contract between Hero MotoCorp and the Football Sports Development Limited (FSDL) concluded in May 2023, leading to Hero’s decision to discontinue its decade-long association with Indian football.
Hero MotoCorp’s sponsorship was instrumental in supporting Indian football for over ten years. The company served as the title sponsor for various competitions, including the ISL, I-League, and All India Football Federation (AIFF)-run events, as well as grassroots and youth development programs.
| The reason for the withdrawal could be due to the Enforcement Directorate seizing movable assets worth about ₹25 crore during searches and ongoing enquiry in connection with an alleged money-laundering case involving Pawan Kant Munjal, Chairman and MD of Hero MotoCorp… https://t.co/FBRgOR1CGj
— 90ndstoppage (@90ndstoppage) September 12, 2023
Hero MotoCorp, one of India’s leading two-wheeler manufacturers, has decided not to renew its sponsorship deal with Indian football.
Hero has cut-off ties with ISL! @KhelNow #ISL #BFCLive #WeAreBFC pic.twitter.com/HMR3fsS6L0
— TOTAL BFC (@Total_BFC) September 12, 2023
Impact on Indian Football
The abrupt exit of Hero MotoCorp as a major sponsor is expected to have a considerable impact on the financial stability of football clubs, leagues, and developmental programs. The AIFF and ISL organizers are now faced with the challenge of swiftly finding a replacement title sponsor to ensure the continued growth and success of Indian football.
Despite efforts to obtain comments from Hero MotoCorp and FSDL regarding this development, no responses have been received.
Internal Issues Behind the Move
Sources close to the matter have cited internal issues as the reason behind Hero MotoCorp’s surprising withdrawal from football sponsorship. While the company has been under scrutiny due to an ongoing Enforcement Directorate (ED) investigation, sources indicate that this decision is unrelated to the investigation.
The contract between Hero MotoCorp and the Football Sports Development Limited (FSDL) concluded in May 2023, leading to Hero’s decision to discontinue its decade-long association with Indian football.
Hero MotoCorp’s sponsorship was instrumental in supporting Indian football for over ten years. The company served as the title sponsor for various competitions, including the ISL, I-League, and All India Football Federation (AIFF)-run events, as well as grassroots and youth development programs.
| The reason for the withdrawal could be due to the Enforcement Directorate seizing movable assets worth about ₹25 crore during searches and ongoing enquiry in connection with an alleged money-laundering case involving Pawan Kant Munjal, Chairman and MD of Hero MotoCorp… https://t.co/FBRgOR1CGj— 90ndstoppage (@90ndstoppage) September 12, 2023
Hero MotoCorp, one of India’s leading two-wheeler manufacturers, has decided not to renew its sponsorship deal with Indian football.Hero has cut-off ties with ISL! @KhelNow #ISL #BFCLive #WeAreBFC pic.twitter.com/HMR3fsS6L0
— TOTAL BFC (@Total_BFC) September 12, 2023
Impact on Indian Football
The abrupt exit of Hero MotoCorp as a major sponsor is expected to have a considerable impact on the financial stability of football clubs, leagues, and developmental programs. The AIFF and ISL organizers are now faced with the challenge of swiftly finding a replacement title sponsor to ensure the continued growth and success of Indian football.
Despite efforts to obtain comments from Hero MotoCorp and FSDL regarding this development, no responses have been received.