However, there’s a probability of Nike re-biding for the deal after refusing BCCI’s scaled down bid provide from their Rs 370 crore (plus Rs 30 crore royalty), which they paid from 2016 to 2020.

“I can confirm you that Puma has bought the ITT (Invitation to Tender) document worth Rs 1 lakh. While buying bid document doesn’t mean one is bidding, Puma has shown genuine interest in submitting a bid,” a senior BCCI official advised PTI.

Adidas too has proven curiosity however whether or not it will likely be bidding for the sponsorship rights continues to be not recognized. Even although some really feel that the German big may independently bid for merchandise merchandise, which shall be a separate tender.

Selling of unique merchandise merchandise is determined by what number of unique shops an organization has together with the purpose of gross sales (retailers that sells your organization’s merchandise). While Puma has over 350 unique shops, Adidas has greater than 450 shops which makes these two firms probably the most wanted.

A senior trade insider defined the entire sponsorship concern in these turbulent financial occasions. “Don’t be surprised if the new rights holder pays something around Rs 200 crore for a five-year deal which will be significantly less than what Nike paid during previous term,” the trade veteran defined.

“BCCI offered Nike the first right of refusal and that too a scaled down offer which they declined. This could mean two things. Either they are not interested or may submit a bid which is even more scaled down than what BCCI offered,” he mentioned.

As far as Puma is anxious, it has had an elevated curiosity within the Indian market through the years particularly by way of IPL however now it additionally has India captain Virat Kohli as its model ambassador together with KL Rahul.

“Puma has been a part of IPL for some years now and with Virat in their roster, it would only enhance their presence in Indian market,” he added. The BCCI in it is new bid has stored a base value of Rs 61 lakh per match in comparison with the Rs 88 lakh over the last cycle.

Source hyperlink