-
ALSO READ
BCCI to invite tender for apparel as Nike's sponsorship expires in Sep
Where India cricket team stands as Australia, England, Lanka start training
Covid-19 to change cricket for good: ICC mulls a slew of radical measures
Yuvraj criticizes current culture in Indian team, says it lacks role models
ICC has taken Bangla celebration issue very seriously: Indian team manager
-
German sports apparel and footwear major Puma could be the frontrunner in bagging the Indian cricket team's kit sponsorship rights while rival Adidas could also enter the fray.
However, it couldn't be confirmed whether Nike would re-bid after refusing BCCI's scaled down bid offer from their Rs 370 crore (plus 30 crore royalty), which they paid from 2016 to 2020.
"I can confirm you that Puma has bought the ITT (Invitation to Tender) document worth Rs 1 lakh. While buying bid document doesn't mean one is bidding, Puma has shown genuine interest in submitting a bid," a senior BCCI official told PTI on conditions of anonymity.
It is learnt that Adidas too has shown interest but whether it will be bidding for the sponsorship rights is still not known. Even though some feel that the German giant could independently bid for merchandise products, which will be a separate tender.
Selling of exclusive merchandise products depends on how many exclusive stores a company has along with the point of sales (shops that sells your company's products).
While Puma has over 350 exclusive stores, Adidas has more than 450 outlets which makes these two companies the most sought after.
A senior industry insider explained the whole sponsorship issue in these turbulent economic times.
"Don't be surprised if the new rights holder pays something around 200 crore for a five-year deal which will be significantly less than what Nike paid during previous term," the industry veteran explained.
"Look BCCI offered Nike the first right of refusal and that too a scaled down offer which they declined. This could mean two things. Either they are not interested or may submit a bid which is even more scaled down than what BCCI offered," he said.
As far as Puma is concerned, it has had an increased interest in the Indian market over the years especially through IPL but now it also has India captain Virat Kohli as its brand ambassador along with KL Rahul.
"Puma has been a part of IPL for some years now and with Virat in their roster, it would only enhance their presence in Indian market," he added.
The BCCI in it's new bid has kept a base price of Rs 61 lakh per match compared to the Rs 88 lakh during the last cycle.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
