Nike to Renew Team India Cricket Deal for Over USD60m
By Community | April 26, 2011
An official announcement is expected today, April 26, to confirm that the world’s leading sports apparel brand, Nike has extended its sponsorship of the Indian national cricket side, ‘Team India’, after they managed to win the International Cricket Council (ICC) World Cup on home soil.
The kit sponsorship renewal has been agreed for a further five years after Nike struck a deal with the Board of Control for Cricket in India (BCCI) for a reported sum of around US$60.67m over the duration of the contract.
Nike India Managing Director Tarun Puri told The Times of India: “The extension of our contract for apparel sponsorship with the BCCI is testimony to Nike’s commitment to providing the most innovative products to the Indian cricket team and to the BCCI.”
As per the sponsorship agreement, Nike’s swoosh logo will be seen on the non-leading arm of the India team players. The team will wear uniforms, practice wear, travel wear, caps, helmets, headwear, eyewear, carry bags, headbands, wristbands and athletic footwear with the Nike logo.
Additionally, Nike will also be the official licencee for apparel merchandise for the Indian team having first inked a five-year deal as team kit sponsor in 2005 for about $45m, which was extended till March this year.