Nike is Team India's apparel sponsor
Under the deal, the sports apparel company will pay BCCI Rs 196.6 crore for the next five years.india Updated: Dec 24, 2005 18:34 IST
Nike will be the apparel sponsor for India for the next five years. The company has won the bid ahead of Adidas and Reebok and Slazenger.
Announcing this after a meeting of the BCCI Marketing Committee here on Friday, BCCI Vice President Lalit Modi said that the contract is for the period from January 1, 2006 to December 31, 2010.
"With this, BCCI has become the world's most valued brand in team sponsorship," Modi said.
Under the deal, the sports apparel firm will pay BCCI Rs 196.6 crores for the next five years for ODIs and Tests.
Nike will have its logo on the non-leading arms of the Indian cricketers. Italso has the right to create Team India merchandising.
Licensing of merchandise would see branded goods being made available for sale through retail outlets and departmental stores.
Bid for apparel sponsorship came following Cricket Board's decision to explore new sources of revenue and opening itself to product merchandising, ground sponsorship, team kit and apparel licensing, as a part of its 'Future Vision' on marketing the game in the country.
Air Sahara has already been given a four-year contract as chief sponsors of the team, a deal that allows their logo on the players' chests and leading arm.
Nike, based in Beaverton, Oregon is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities.
Wholly-owned Nike subsidiaries include Converse, which designs, markets and distributes athletic footwear, apparel and accessories; Bauer NIKE Hockey, a leading designer and distributor of hockey equipment; Cole Haan, a leading designer and marketer of luxury shoes, handbags, accessories and coats; Hurley International LLC, which designs, markets and distributes action sports and youth lifestyle footwear, apparel and accessories and Exeter Brands Group LLC, which designs and markets athletic footwear and apparel for the value retail channel.
First Published: Dec 24, 2005 18:34 IST