NEW DELHI: A 14-year relationship that US sportswear giant Nike has had going with the BCCI as Team India kit sponsor rights holder is expected to soon be up for bidding as a fresh tender will need to be issued as the current partnership ends in September.
As per reports, Nike coughed up around Rs 3.7 billion to renew the kit sponsorship with the Indian team that will finish on September 30.
Speaking to IANS, sources in the know of developments said that in the current market scenario, it was only fair that the Indian board would look to issue tenders to see a fair battle for the rights unless Nike and BCCI agree to extend the current deal on the same terms and conditions. The source clarified that any talk of a reduction would definitely see tenders being issued.
"Once the current contract ends, issuing tender will be the way forward unless Nike decides to continue paying the same rights value and provided the board is also okay with that idea. If Nike talks about a cut due to the current situation, then it will be a case of playing fair and allowing the ones who offer the best deal to have the rights to be the kit sponsors of the Indian cricket team. Any other arrangement will not be palatable especially in the background of the challenges of quality that have emerged from time to time," the source pointed out.
"As far as I know, the office bearers are very particular about propriety and they would not be interested in a decision that would undermine the interests of the BCCI," said source told the newswire.