Nonetheless, it could not be confirmed whether or not Nike would re-bid after refusing BCCI‘s scaled down bid supply from their Rs 370 crore (plus 30 crore royalty), which they paid from 2016 to 2020.
“I can affirm you that Puma has purchased the ITT (Invitation to Tender) doc price Rs 1 lakh. Whereas shopping for bid doc does not imply one is bidding, Puma has proven real curiosity in submitting a bid,” a senior BCCI official instructed on circumstances of anonymity.
It’s learnt that Adidas too has proven curiosity however whether or not it is going to be bidding for the sponsorship rights continues to be not identified. Despite the fact that some really feel that the German big might independently bid for merchandise merchandise, which can be a separate tender.
Promoting of unique merchandise merchandise will depend on what number of unique shops an organization has together with the purpose of gross sales (outlets that sells your organization’s merchandise).
Whereas Puma has over 350 unique shops, Adidas has greater than 450 shops which makes these two corporations essentially the most wanted.
A senior business insider defined the entire sponsorship difficulty in these turbulent financial instances.
“Do not be shocked if the brand new rights holder pays one thing round 200 crore for a five-year deal which can be considerably lower than what Nike paid throughout earlier time period,” the business veteran defined.
“Look BCCI supplied Nike the primary proper of refusal and that too a scaled down supply which they declined. This might imply two issues. Both they aren’t or might submit a bid which is much more scaled down than what BCCI supplied,” he stated.
So far as Puma is worried, it has had an elevated curiosity within the Indian market through the years particularly by IPL however now it additionally has India captain Virat Kohli as its model ambassador together with KL Rahul.
“Puma has been part of IPL for some years now and with Virat of their roster, it might solely improve their presence in Indian market,” he added.
The BCCI in it is new bid has saved a base worth of Rs 61 lakh per match in comparison with the Rs 88 lakh over the past cycle.