Chronicle Editor
THE Indian cricket team may soon have to let go of kit partner Nike, as the cricket board and the sportswear brand are locked in a tussle over contract renewal.
The tug-of-war has come at a time when the Board of Control for Cricket in India (BCCI) is already under pressure to revisit its sponsorship deals.
If the India-China stand-off at Galwan isn’t resolved soon, the BCCI may have to let go of Chinese smartphone maker Vivo as the title sponsor of the Indian Premier League, burning a Rs 440 crore hole in its pocket this year.
However, with Nike, one of the oldest partners of the BCCI, it is in the board’s hands to retain the partnership that dates back to 2006.
“Nike’s current deal as ‘kit partner’ of the BCCI is ending in September. It was a four-year deal worth Rs 370 crore, which included Rs 85 lakh per match fee and a royalty of over Rs 30 crore to the board,” said a top source in the BCCI.
“Nike’s business has greatly suffered during the lockdown and it is seeking extension for lost time at a discount. The board may not agree and we may have to come up with tender for the position.”
Team India has had to call off 12 international matches during the lockdown. These included South Africa’s tour to India, and India’s tour to Sri Lanka and Zimbabwe.
Both Nike and the BCCI did not respond to ET’s queries. – Economic Times
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