BCCI-Nike kit sponsorship deal close to an end; new deal may see 31% dip due to coronavirus
The Board of Control for Cricket in India (BCCI) is all set to find a new clothing rights partner for Team India as the existing deal with Nike, the brand which has been associated with the national cricket team since a decade, is close to an end. Reports said BCCI's Request for Proposal (RFP) is likely to be brought out by next week.
In 2016, Nike renewed the partnership with the BCCI for four more years offering a hefty amount of Rs 88 lac per match and Rs 6 crore per year. The deal was for approximately 220 matches in four years and all players have to wear the jersey with a Nike logo.
The company is in race with several other prestigious sports apparel and footwear brands but still a forerunner to get the deal.
However, keeping the ongoing financial crisis, due to the novel coronavirus that has infected millions and claimed thousands of lives worldwide, BCCI may drop down the base price for the bid by upto 31%. A source said that the already worried cricket governing body may scale down the base deal amount only if the Minimum Guarantee Clause in the existing will be kept aside.
If this happens then the base price will be kept around Rs 61 lakhs. The RFP is divided into 3 parts:
a) The main logo sponsor with rights to sell replicas of the Team India jersey.
b) Apparel partner with rights to sell fan merchandise.
c) Combination of the bucket a & b.
Notably, this time the RFP deal will be signed for 3 years, instead of 4 as the International Cricket Council’s (ICC) Future Tours Program (FTP) runs out in the year 2023. BCCI's new president Sourav Ganguly, who rescued the team from several unsounded situtaion when he was a captain, is known to take bold actions and it will be interested that what he will do this time.
Posted By: Gaurav Sharma