BCCI invites bids for teams’ kit sponsors
The Indian cricket board on Monday invited bids for the teams’ kit sponsor and official merchandising partner rights through a tender process to replace outgoing sponsor Nike. The teams’ current apparel sponsorship right holders Nike’s contract is set to expire next month. The sports apparel giant had a four-year deal with the BCCI for ~370 crore with a royalty of ~30 crore.Under the Invitation to Tender (ITT), the winning bidder will be granted the right to be the kit sponsor and/or the official merchandising partner and various other associated rights (as defined in the ITT).