NEW DELHI, Nov 2: Fantasy gaming platform Mobile Premier League�s subsidiary arm �MPL Sports Apparel and Accessories� is the new kit sponsor of the Indian cricket team for a period of three years.
A member of the Apex Council confirmed the development on Monday that BCCI has inked the apparel and merchandise deal with MPL, replacing Nike.
�Yes, Apex Council has passed the sponsorship deal for apparel of Indian team (men, women, A and U19).
�However the rate per match will be Rs 65 lakh per game instead of Rs 88 lakh that Nike was giving,� the senior official told PTI on conditions of anonymity. It is learnt that BCCI will also get 10 per cent of the royalty from the sale of merchandise.
�MPL has formed an apparel manufacturing company. They will also pay an amount for merchandise contract. The deal will end in November, 2023,� the source added.
While Puma and Adidas had earlier picked up the bid papers for apparel sponsorship, they didn�t fill the bid as they felt that the deal needed to be reduced to one third from the original bid.
Nike had a five year deal during which they paid Rs 370 crore from 2016 to 2020 with a 30 crore royalty.
�No sporting apparel major was ready to pay that kind of money that Nike paid in current economic climate (due to COVID-19).� � PTI
