When the Indian cricket team takes the chartered flight to Sydney for its 70-day Australia tour on November 12, it will not be without a kit sponsor. “We have signed a three-year-deal. The official announcement will be made very soon,” a BCCI official said on Sunday.
While BCCI has averted the loss of face of going on an overseas tour without sporting a sponsor’s logo, it is learnt there has been a correction in the valuation. The per match figure will fall short of the R87 lakh per game previous sponsors Nike paid.
BCCI had set a base price of R65 lakh per match, a 25 percent decrease from the previous deal. Nike’s deal also involved a royalty fee of R30 crore for merchandising rights. The base price for that had been set at R24 crore for 3 years. The new deal’s value is said to be higher than the base price but short of the previous deal.
After Nike ended its 14-year association with BCCI, it did not pick up the tender document when fresh bids were invited. After expiry of the contract in September, international sportswear companies like Adidas and Puma had expressed interest, but did not submit a bid.
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,” an industry expert said.
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