The Board of Cricket Control denies Nike's request for reduction in the contract amount for kit sponsorship Credit: Twitter

The Board of Cricket Control in India (BCCI) has finally roped in MPL as the new kit sponsor of the Indian Cricket Team. The deal has been inked for three years starting from November 2020 till December 2023.

Former kit sponsor Nike had been associated with the BCCI for the last 14 years. However, due to the global effect of the pandemic, Nike requested a deduction in the current contract’s amount and wanted a reduced rate.

There have been ongoing conversations in the last few days with regards to fixing a kit sponsor for the Indian Cricket Team which is resuming its cricketing calendar from November 27 this year. However, Nike was not keen to continue the deal at the current rate. They have been paying Rs 88 lakh per match to the BCCI. Subsequently, after talking with Nike, BCCI decided to go for a fresh Bid. However, even after floating a tender of Rs 65 lakh per match, none of the sportswear giants like Puma and Adidas showed any interest.

MPL, the new kit sponsor, already has ties with Virat Kohli and KL Rahul. Apart from Kohli being the brand ambassador, MPL is also one of the sponsors of Dream 11 Indian Premier League (IPL). This new contract will be MPL’s first major international cricketing deal.

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The new contract amount comes at a decrease of 25% from the previous one. However, companies like Nike, Puma and Adidas wanted the same to be one-third. As for merchandising rights, the new contract will include royalty of 10% of net sales per season and merchandising will be for Rs 3 crore per year.

The athleisure brand will thus start its journey with the Indian cricket team when Team India face Australia in the first ODI at the Sydney Cricket Ground on November 27, 2020.

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