After a three-year sabbatical, ITC has announced its comeback into sports sponsorship with 'Sunfeast Open 2005, Kolkata.'
The move would mark the re-entry of one of the biggest corporate sponsor of sports in the country known to have spent around Rs 250 crore (Rs 2.50 billion) on an annual basis on sponsorships in cricket, golf, tennis, billiards, horse racing through its various cigarette brands.
Responding to queries on the sidelines of the press conference to announce the launch of Sunfeast Open, Hemant Malik, head of marketing, ITC-food business, said, "ITC has been out of sports sponsorships for the last few years and is now making a comeback."
On the comeback timing, he said, there were some legal issues, which are no longer relevant.
ITC, it may be mentioned, decided to withdraw from sports sponsorship in early 2001, following the decision of the Cabinet to ban advertising and promotion of tobacco.
On February 8, 2001, ITC issued a press release saying, following the reported decision of the Cabinet, in a constructive spirit and to avoid any ongoing controversy, ITC has decided to voluntarily withdraw from all sponsorships of sporting activities irrespective of the legal position on the subject.
Prior to the withdrawal, ITC sponsored tournaments in tennis and billiards under Gold Flake, golf and horse racing under Classic and cricket under Wills brand.
The company sponsored the Wills World Cup in 1996 and reportedly spent Rs 40 crore (Rs 400 million).
