Announced today, the deal is with Indian conglomerate Shapoorji Pallonji and will see the academy renamed the Shapoorji Pallonji Cricket Ireland Academy. The company will also become an official partner of Cricket Ireland.

Indian Summer for Cricket Ireland Academy - CI agree multi-million euro partnership with Shapoorji Pallonji http://t.co/U8jUBfixbM

— Cricket Ireland (@cricketireland) September 17, 2014

The company is a multi-national business owned by the Mistry family, who are an Irish family based in Mumbai. Company chairman Shapoorji Pallonji Mistry gave up his Indian citizenship in 2003 in order to become an Irish citizen.

Minister for Transport, Tourism and Sport, Paschal Donohoe announced the sponsorship deal at Trinity college today.

“This 10 year multi-million euro investment by Shapoorji Pallonji, who will become an official partner to Cricket Ireland, is one of the biggest sports sponsorship deals in the last number of years,” said Donohoe.

“In addition to it being a great news story for Irish sport, it is also a great news story for Ireland and our business links to India.”

Cricket Ireland CEO Warren Deutrom also welcomed the deal in a statement on cricketireland.ie.

“The development of our next generation of international cricketers in the national academy is one of our most important tasks,” said Deutrom, “and requires significant investment, understanding and an ability to take the long view.”

“We are delighted to welcome Shapoorji Pallonji Group to the Irish cricket family and look forward to developing not just our players but our relationship, and that of Ireland and India, over the next decade.”