Foreign exchange operator Travelex has paid &£1m to sponsor Sky’s coverage of the cricket World Cup, which begins in February.
Sky has bought the UK television rights to the tournament and is devoting an entire channel to the seven-week tournament. Under the terms of its sponsorship package, Travelex will be the sponsor of all cricket coverage and programmes based on the tournament on the channel.
Creative executions have been provided by Lida, a division of M&C Saatchi. This is the second “World Cup” that Travelex has sponsored in less than a year. Last May, Travelex was named as the &£3m sponsor of ITV’s coverage of the football World Cup. Head of group marketing and communications Anthony Wagerman says: “We are building up our World Cup portfolio.”
Travelex has been revamping its sponsorship and advertising strategy since it acquired the financial services division of Thomas Cook in March 2001. Last year, it announced a five-year sponsorship of the Toyota F1 team, and became the official sponsor of the Australian cricket team for all overseas tours.
The cricket World Cup has drawn controversy recently over matches to be staged in troubled Zimbabwe. Matches will also take place in South Africa and Kenya.