Nike’s contract for the Indian cricket team’s current apparel sponsorship rights holders will expire in September 2020.
BCCI’s contract with Nike expires in September 2020 (Reuters Photo)
HIGHLIGHT
- BCCI invites the new kit sponsor and official marketing partner
- BCCI’s contract with Nike will expire in September 2020
On Monday, the Indian cricket board invited to submit bids for the team sponsor and the rights of the official marketing partners through a tender process to replace outgoing sponsor Nike.
Nike’s current contract with the team’s apparel sponsorship rights holders will expire next month. The sportswear giant had a four-year contract with BCCI for Rs 370 million with a royalty of Rs 30 million.
Under the Invitation to Bid (ITT), the winning bidder will be granted the right to be the kit sponsor and / or the official marketing partner and other associated rights (as defined in the ITT).
“The terms and conditions governing the submission and evaluation of bids, including eligibility requirements and performance obligations, are contained in the ITT, which will be available from August 3, 2020, upon receipt of payment of the Rs One lakh tender fee, “said a BCCI statement.
The ITT will remain on sale until August 26.
“BCCI reserves the right, at its discretion, to cancel or modify the bidding process at any stage without providing any reason. Simply purchasing the ITT does not entitle the buyer to bid, but to do so the buyer must buy the ITT on behalf of the person/entity you want to bid, “the statement said.
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