Hero MotoCorp pulls out of IPL sponsorship

Zeenews Sports Bureau

New Delhi: In what could be a major setback for the organizers of the Indian Premier League, as per reports, Hero MotoCorp has pulled out of the Indian Premier League sponsorship on Tuesday.

The two-wheeler manufacturer was a team sponsor for Delhi Daredevils for the first three seasons and then of Mumbai Indians for the fourth and the fifth edition.

According to media reports, Hero would be the second sponsor to move out of lucrative tournament in the past few months after DLF quit the league as title sponsor last year. DLF was later replaced by Pepsi as title sponsor.

"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," the company said in a statement released on Tuesday.