BCCI Finds Shirt Sponsor Ahead Of The Upcoming Australia Tour
Published - 02 Nov 2020, 11:56 AM | Updated - 23 Aug 2024, 12:36 AM
Soon after the 13th season of IPL, the Indian team will fly to Australia to partake in all the formats. The Indian team, which is supposed to depart on the 12th of November, had no kit sponsor; however, things are on the way of changing. The BCCI has announced that they have signed a three-year deal and would be making an official announcement soon.
The BCCI has managed to avoid a loss about to face by going on an overseas tour without sporting a sponsor’s logo. Nevertheless, there is a correction in the valuation as the per match figure will be less than INR 87 lakh per game as compared to what the previous sponsors Nike paid. BCCI put a base price of INR 65 lakh per game, a 25 per cent decrease from the last deal.
It is understood that Nike’s deal also had a royalty fee of INR 30 crore for merchandising rights. The base price was INR 24 crores for three years. While the new agreement that the BCCI struck is higher than the base price, it is less than the last one. A BCCI official underlined that would make an official announcement soon as reported by Hindustan Times.
Nike ended its 14-year association with BCCI:
Post Nike ending its 14-year association with the BCCI, they did not receive fresh bids initially. As the contract expired in September, international sportswear companies like Adidas and Puma expressed interests; it did not submit their bids.
An industry expert claimed that when IPL delivers impressive ratings and attractive sponsorships across franchises, companies have been hesitant in entering in long-term deals with the Indian team.
“It’s notable that when IPL is delivering impressive ratings, and attractive sponsorships across franchises, companies have been reluctant to enter long term deals with the India team. The bang for the buck now comes from IPL, and visibility is immediate,” the expert said.
