Indian Premier League (IPL) franchise Delhi Capitals have announced that the team has already matched its 2019 revenues, owing to numerous new and existing sponsorship deals.

Delhi Capitals began their IPL 2020 campaign in emphatic style, clinching a thrilling win over Kings XI Pujab in their opening encounter on Sunday.

According to brand valuation consultancy Brand Finance, the JSW and GMR co-owned franchise witnessed the highest growth in brand valuation in 2019, DC said in a media release.

"Despite initial commercial uncertainties surrounding this edition of the IPL, early signs indicate an even more successful 2020 as the team's jersey branding assets have acquired equal or higher value than in 2019."

The Delhi-based franchise currently has 16 partners, including title sponsor JSW Group. In the lead-up to the tournament, Delhi Capitals announced deals with multiple brands across different categories including Ebix Cash, APL Apollo, Acko General Insurance, Colgate, Livinguard, Nissin and OK Credit.

The franchise has also signed licensing associations with industry leading brands like Kotak for credit and debit cards, Boat for music accessories and Fancode for merchandise and deeper fan engagement.

Given the unique circumstances and challenges posed by the Covid-19 pandemic, the franchise launched a 'Vocal for Local Campaign' campaign in association with Ok Credit, the team's Official digital credit ledger.

In another first, the team also announced Livinguard as its hygiene partner and associated with Indian innerwear brand Bodycare.

"The combination of the most highly awaited edition of the IPL, along with Delhi Capitals' strong squad has inspired a lot of confidence in the market and made our franchise an ideal avenue for Indian and international brands that are looking to associate with a young and dynamic team. We are thankful to all our partners. Their support further motivates us to clinch the title," Dhiraj Malhotra, CEO Delhi Capitals, said.