Nike unlikely to renew contract with Indian team as BCCI set to invite new tender

BCCI likely to lose Nike as kit sponsor | File Image

XtraTime Web Desk: World famous sportswear brand Nike is unlikely to renew its contract with the Indian cricket team. Nike’s four-year contract with BCCI will terminate in September. The four-year deal was worth Rs 370 crore included Rs 85 lakh per match fee and an annual royalty of Rs 12-15 crore to the board. The sports brand is involved in a tussle with the Board of Control for Cricket in India over contract renewal. According to a board insider, “Nike’s business has greatly suffered due to the board pulling off its recent tours to Sri Lanka and Zimbabwe. The sportswear brand is seeking an extension of contract for lost time at a discount which the board is not willing to accept. So the board may invite new tender.”

The matter came up for discussion during the recent Apex Council meeting on Friday.

“The Nike’s was a four-year deal for 370 crore with a royalty of 30 crore. Now they will not be submitting any fresh proposal for the new period which starts October 1. The Apex Council has decided that RFP (Request For Proposal) will be floated. Nike obviously can submit a fresh bid,” a senior BCCI official told PTI on conditions of anonymity.

It was also learnt that BCCI is likely to extend the contract of ‘Pulse Innovations’ for the Digital Services contract for BCCI and IPL digital platforms. The company maintains BCCI and IPL websites.

The BCCI has had to call off 12 international matches during the lockdown. These included South Africa’s tour to India, and India’s tour to Sri Lanka and Zimbabwe.