Their contributions are called branding money [the team will have company logos on their clothes and on banners round the cricket ground.
Since in a way it is an investment, the success of their investment depends on the success of the team. It is "riding" on the success or otherwise of the team.
The sentence could be better written:
Most distraught due to the situation is corporate India, for whom over 40 per cent of the Rs 12,000-crore branding money rides on the Indian cricket team.