According to a top BCCI official, the Board of Control for Cricket in India (BCCI) is close to agreeing to a 350-crore contract deal with German sporting goods giant Adidas to serve as the Indian cricket team’s kit sponsor
Adidas is set to replace Killer jeans.
Adidas will take the place of Killer Jeans manufacturer Kewal Kiran Clothing Ltd, which stepped in as a temporary sponsor last month after the original sponsor Mobile Premier League Sports (MPL Sports) backed out of the agreement in the middle of it. Galactus Funware Technologies Pvt. Ltd. owns the athleisure and sportswear brand that was the former sponsor of MPL Sports. From November 2020 through December 2023, the BCCI-MPL Sports kit agreement was to be in effect.
Nevertheless, the fantasy sports company left in January, rejecting BCCI’s request to continue as a sponsor through March 31. As a result, Kewal Kiran was named the organization’s interim sponsor. After a 14-year partnership, the US sportswear brand Nike’s tenure expired in 2020. MPL then took over.
Adidas Indian cricket team kit jersey sponsor details and BCCI contract deal length and price 2023
What did the BCCI official state?
The BCCI has formally shaken hands and communicated via email. The arrangement will shortly be inked, the individual cited above said under the condition of secrecy. The board is currently working on drafting the papers. The five-year term for Adidas will begin this June and expire at the end of March in 2028.
For each game that India plays, the corporation will have to pay 65 lakhs. The annual expenditure is anticipated to be close to 70 crores including royalties for products with the total five year deal at Rs.350 crore.
The further story
According to the sources, this agreement is real, and the figures will be comparable to what MPL paid. But it would be intriguing to know how the licencing agreement will be set up as the issue won’t be the placing of the logo in and of itself, but rather licencing as a company, which hasn’t really taken off in India. The licencing business has lost money, not the logos, according to a top executive of a sports marketing firm.
Many sponsors have recently resigned from their contracts with the BCCI and the Indian Premier League or had their contracts reassigned. Byju’s, an ed-tech company that renewed its sponsorship of the team India shirt last year after initially obtaining the rights from Oppo, is also considering its options.