Hero Honda becomes Mumbai Indians lead sponsor

Indian two-wheeler giant Hero Honda signed on as the lead sponsor of the Nita Ambani owned IPL side Mumbai Indians, replacing consumer electronics major Videocon. The three-year deal involves sponsorship money of around US$15 million. Videocon had signed a three-year deal with Mumbai Indians for an estimated US$8 million last year. Hero Honda was the lead sponsor of Delhi Daredevils for the past three years and had decided against continuing its association with them, which prompted the Daredevils to sign up Muthoot Group as their lead sponsor.