XtraTime Web Desk: Rival German sports goods brands Puma and Adidas are in fray to replace Nike as Team India’s jersey sponsor. Both Puma and Adidas have submitted their bids which are likely to be opened on Saturday.
Puma, who have an apparel deal with the current India captain, Virat Kohli, is slightly ahead over Adidas as they bought invitation to tender document by paying a sum of 1 lakh. Adidas also is interested in the contract but does not confirm if the brand has acquired the ITT. It was earlier reported by news agency PTI that Adidas may be interested in bidding for merchandise products, which come under a separate tender.
With Nike deciding not to renew its contract which expires in September, the BCCI has no other options but to cut the base price because of the markey situation due to the coronavirus pandemic. The new kit deal will be for next three years. Under the existing terms, Nike reportedly paid the BCCI 88 lakh per match and an annual fee of 6 crore, as well as 15 per cent royalties on sales, worth as much as 10 crore per year.
BCCI has altered the structure of the tender. The first package is for a technical kit partner with rights to sell replicas of the national team jerseys, the second is an apparel contract with rights to sell fan merchandise and the third is a combination of those two.