TVS Eurogrip denies speculation over signing a Rs 23 crore sponsorship deal with Chennai Super Kings

• Earlier today, a few media houses filed a story stating that CSK has signed a 3-year sponsorship deal with TVS Srichakra.
• However, TVS Eurogrip has released a statement denying speculation of signing the sponsorship deal.

TVS Eurogrip has denied speculation of signing a 3-year sponsorship deal with Chennai Super Kings (CSK). Media reports stated that TVS Srichakra has signed a 3-year deal valued at approximately Rs 23 crore a year. However, TVS rejected the reports suggesting that it plans to become CSK's principal sponsor in 2022, dismissing the widespread speculation around the details of its deal as 'untrue.'

“Please note, there is recent speculation in the media about a CSK-TVS SRICHAKRA association in IPL 2022, we would like to inform that this is not true. We will keep media informed if there is any announcement in the future. Please avoid any kind of speculation at this point of time which will mislead the customers, shareholders, and stakeholders,” TVS Eurogrip said in a statement.

CSK is the second-most valued IPL team franchise, according to Duff & Phelps - a Kroll business. Its value in 2020 stood at Rs 611 crore.