Is There a Curse on Indian Cricket Sponsors?

25.09.25 09:40:56

Cricket in India is more than a sport — it’s a cultural phenomenon. And for brands, having their logo on the Team India jersey represents prestige, visibility, and instant recognition. Over the years, these sponsorships have become some of the most valuable marketing deals in the world of sports.

But here’s the curious part: many of the companies that once proudly adorned the Indian jersey later found themselves in trouble. Coincidence? Or is there really a “jersey curse”?

A Look Back at Former Sponsors

Sahara

For over a decade, the Sahara logo was synonymous with Team India. But the group later ran into SEBI battles, massive refund obligations, and controversies surrounding its founder. A fall from grace for what was once a household name.

Byju’s

The edtech unicorn that once represented India’s startup dream is now in deep trouble. From insolvency proceedings to valuation collapse and even disputes with the BCCI, Byju’s story is a reminder that rapid growth without strong financial fundamentals can backfire.

Oppo

Oppo made a splash as a sponsor but exited abruptly, citing poor returns on its investment and growing India–China tensions. Sponsorship visibility wasn’t enough to justify the spend.

Star India

As a media powerhouse, Star India had immense reach. But mounting regulatory pressures and the shift to streaming disrupted its dominance. Eventually, it was absorbed into Reliance Jio’s expanding media empire.

Dream11

The fantasy sports platform became a big name in cricket, but it now faces regulatory headwinds around real-money gaming in India. Its long-term future looks uncertain.

Coincidence or Jersey Curse?

Some call it bad luck, others half-jokingly call it the “jersey curse.” But perhaps the real lesson lies elsewhere:

Sponsorship brings instant recognition, but long-term credibility requires something deeper — governance, adaptability, and resilience.

Without sustainable fundamentals, even the brightest names risk a dramatic fall.

This lesson isn’t limited to cricket sponsors. Businesses across industries must regularly evaluate their financial health and ensure they aren’t overextending. A simple financial health check-up can often reveal whether an organization is growing sustainably or heading toward risk.

Enter Apollo Tyres: Will They Break the Pattern?

With Apollo Tyres stepping in as the new sponsor, all eyes are on whether they can break this so-called curse. Unlike past sponsors, Apollo is an established, steady player in the Indian market with decades of experience.

Their challenge will be to leverage this sponsorship without overreaching — striking a balance between brand visibility and business fundamentals.

Takeaway for Investors

The story of cricket sponsors offers a valuable investing lesson:

Don’t get carried away by visibility or hype.
Look deeper into governance, financial stability, and long-term adaptability.
In investing, just like in sponsorship, fundamentals matter more than flashy logos.

At Hedge Equities, our portfolio management service are designed with this philosophy in mind — focusing on sustainable growth, risk management, and resilience.

Final Thoughts

The "jersey curse" may be more myth than reality, but the cautionary tales of Sahara, Byju’s, Oppo, Star India, and Dream11 highlight one truth: visibility without substance doesn’t last.

Apollo Tyres has an opportunity to prove that strong fundamentals can withstand any supposed curse.

What do you think? Is this all a funny coincidence, or do you believe in the jinx?

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