Fantasy gaming platform Cell Premier League’s subsidiary arm ‘MPL Sports activities Attire and Equipment’ is the brand new equipment sponsor of the Indian cricket workforce for a interval of three years.
A member of the Apex Council confirmed the event on Monday that BCCI has inked the attire and merchandise cope with MPL, changing Nike.
“Sure, Apex Council has handed the sponsorship deal for attire of Indian workforce (males, girls, A and U19).
“Nevertheless the speed per match shall be Rs 65 lakh per sport as a substitute of Rs 88 lakh that Nike was giving,” the senior official instructed PTI on circumstances of anonymity.
It’s learnt that BCCI can even get 10 p.c of the royalty from the sale of merchandise.
“MPL has shaped an attire manufacturing firm.
They can even pay an quantity for merchandise contract.
The deal will finish in November, 2023,” the supply added.
Whereas Puma and Adidas had earlier picked up the bid papers for attire sponsorship, they did not fill the bid as they felt that the deal wanted to be diminished to at least one third from the unique bid.
Nike had a 5 12 months deal throughout which they paid Rs 370 crore from 2016 to 2020 with a 30 crore royalty.
“No sporting attire main was able to pay that sort of cash that Nike paid in present financial local weather (on account of COVID-19).
“One of many main causes being merchandise gadgets being very pricey for frequent public,” the supply stated.
MPL is presently related to two IPL franchises (KKR and RCB), one CPL franchise (TKR) and the cricket boards of Eire and the UAE.