India sign new sponsorship deal

The Board of Control for Cricket in India (BCCI) has signed a multi-million dollar deal with Nike, outbidding rivals Adidas and Reebok.

The five-year contract, which starts on January 1, 2006, is worth Rs. 1.97 billion (USD 45 million). The next highest bidder was Adidas with Rs. 1.28 billion.

As a part of the deal, Nike will provide the official kits the India team will wear on the field, the first of which was revealed by chief of selectors, Kiran More. (Photo on right, courtesy BBC). The deal also gives Nike the right to sell all official BCCI merchandise at their retail stores throughout the country.

BCCI vice-president, Lalit Modi said, “The aim was to maximise the gains from the game for the benefit of the game. The BCCI is looking at exploring new sources of revenue and would soon open itself to product merchandising, ground sponsorship and other licensing as part of its strategy to market the game.”

This follows the board’s signing up with Sahara, an airline company, with a deal worth a gargantuan USD 70 million, to be the main sponsors.