This places in question the continuation of attire giant Nike's 14-year-old relationship with Indian cricket and BCCI
Mumbai: The Board of Control for Cricket in India (BCCI) has invited a fresh tender for the Team Kit Sponsor and Official Merchandising Partner Rights. This places in question the continuation of attire giant Nike's 14-year-old relationship with Indian cricket and BCCI.
Nike had been producing the kits for both the Indian Men’s and Women’s Cricket team and was their official merchandise provider. NIKE’s last deal - worth INR 370 crore ($50 million approx.) more than four years - was due for renewal in September.
Owing to the COVID-19-prompted lockdown and complete lack of cricketing action, Nike is believed to have requested an extension to its four-year contract or renewal at a discounted cost. Given Nike's supposed request for a deal at a discounted value, the BCCI is believed to have taken the course of a fresh tender given a legitimate concern for others who might want to be the sponsors of Indian cricket. This doesn't preclude the chance of Nike bidding as well, yet it will probably come at a cut of the cost.
Under the Invitation to Tender (ITT), the victorious bidder will be granted the right to be the Kit Sponsor as well as the Official Merchandising Partner and different other related rights (as characterized in the ITT). The ITT will be available From August 3, 2020, on receipt of payment of the Tender Fee of Rs. 1,00,000 (Rupees One Lac Only) and will remain for purchase till August 26, 2020.