The BCCI has invited fresh bids for the kit sponsorships and official merchandising partner rights, putting their 14-year association with Nike in doubt. Nike’s four-year deal worth 370 crore ($50 million) came up for renewal in September but the BCCI invited tender for fairness to other parties.
In 2005, Nike signed a $43-million deal to kit out the Indian team after outbidding rivals Reebok and Adidas which gave Nike the rights to sell the BCCI‘s official merchandise at its retail outlets across the country. In 2016, the apparel giant had pledged the decided amount for the extension of its deal worth INR 370 crore ($50 million approx) over four years which was due for renewal in September 2020.
However, the Covid-19 lockdown meant there was no live cricket for the Indian team and keeping an eye on that, Nike asked for an extension to its four-year contract or renewal at a discounted price. As a matter of fact, BCCI postponed South Africa’s tour of India and cancelled the Asia Cup and the tours to Sri Lanka and Zimbabwe.
The BCCI invited fresh tender in the interest of fairness to others and the interested parties, they have said, should submit their tender paper by August 26, 2020. While Nike can still bid for it, it is not yet clear if they would be offered the first right of refusal.
“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, on receipt of payment of the Tender Fee of Rs. 1,00,000 (Rupees One Lac Only). The ITT will remain for purchase till August 26, 2020,” the BCCI said in a statement.