Team India kit sponsorship: Puma buys offer document, Adidas could enter fray

0

German leader in sportswear and footwear Puma could be the leader in securing the sponsorship rights for the Indian cricket team kit, while rival Adidas could also enter the fray.

However, it could not be confirmed whether Nike would make a new offer after refusing BCCI’s reduced offer of their Rs 370 crore (plus 30 crore in royalties), which they paid from 2016 to 2020.

“I can confirm to you that Puma has purchased the ITT (Invitation to Tender) document worth Rs 1 lakh. While purchasing an offer document does not mean one is making an offer, Puma has shown a real interest in submitting an offer, “said a senior BCCI official. PTI on condition of anonymity.

It is learned that Adidas has also expressed interest, but it is still not known if he will bid for the sponsorship rights. Although some believe that the German giant could bid independently for commodity products, which will be the subject of a separate tender.

The sale of exclusive products depends on the number of exclusive stores of a company as well as the outlets (stores that sell your company’s products).

While Puma has over 350 exclusive stores, Adidas has over 450 outlets, making these two companies the most sought after.

A seasoned industry insider explained the whole sponsorship issue in these turbulent economic times.

“Don’t be surprised if the new rights holder pays around 200 crore for a five-year contract, which will be significantly less than what Nike paid in the previous tenure,” explained the industry veteran.

“Look, BCCI offered Nike the first right of refusal and that too a reduced offer which they declined. That could mean two things. Either they are not interested or they can submit an offer which is even smaller than that proposed by BCCI, “he said. noted.

As for Puma, he has had an increased interest in the Indian market over the years, especially through IPL, but now he also has Indian captain Virat Kohli as a brand ambassador along with KL Rahul.

“Puma has been part of IPL for a few years now and with Virat on their list, it would only strengthen their presence in the Indian market,” he added.

The BCCI in its new offer has maintained a base price of Rs 61 lakh per game compared to Rs 88 lakh during the last cycle.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting-edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor


Source link

Leave A Reply

Your email address will not be published.