Published 11:28 IST, June 29th 2020
BCCI likely to lose Nike as kit sponsor after 14 years due to lockdown losses: Report
Nike is one of the oldest jersey sponsors of the BCCI, as their partnership dates back to 2006. Their ongoing 4-year contract is due to end in September.
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The Board of Control for Cricket in India (BCCI) and Nike are likely to part ways in September 2020. The two are currently involved in a dispute over contract tussle, even though the BCCI Nike deal dates back to 2006. According to a BCCI official, Nike has suffered from severe losses in their business due to the ongoing coronavirus global pandemic and shutdown of sporting activities.
BCCI Nike deal: Sourav Ganguly-led BCCI likely to part ways with jersey sponsors Nike
The ongoing BCCI Nike deal is due to end in September 2020 after it was renewed in 2016 for a four-year cycle, according to a BCCI official. The current deal is worth ₹370 crore and it includes ₹85 lakh per match fee and a royalty sum of ₹30 crore to the BCCI. As part of the BCCI Nike deal, the brand has been supplying apparels, footwear and other cricketing gears to Team India free of cost.
According to the Economic Times, the official stated that Nike is actively seeking for a contract extension beyond September due to the lost time. Additionally, they are also asking for a discount due to the impact the global pandemic has had on their business. However, an unnamed BCCI official stated that the board is unlikely to agree to such terms and will have to come up with “tender for the position”.
The BCCI Nike deal dispute comes at a time when the Sourav Ganguly-led committee is already in a sponsorship dilemma with VIVO on the back of the recent India-China standoff at the Galwan Valley. VIVO, who are the official sponsors of the Indian Premier League (IPL), is a Chinese smartphone manufacturing company. According to reports, the BCCI might end up losing ₹440 crore, if they decide to let go of their deal.
Coronavirus India count
The latest updates on the coronavirus India count confirm the country has now crossed 550,000 thousand cases of the contagious disease. With a recovery rate of approximately 58 percent, over 322,000 cases have been recovered and the death toll has climbed to 17,000 people. In an exclusive with ABP News recently, Sourav Ganguly announced that there will be no training camps organised by BCCI for Virat Kohli and the Indian team before August.
Also Read | Gautam Gambhir Agrees With Virat Kohli, Says India Owes Sourav Ganguly For Overseas Form
Image credits: Official Twitter accounts of BCCI and ICC
11:28 IST, June 29th 2020