Fantasy sports and online gaming platform Mobile Premier League (MPL) has signed a deal with the Board of Control for Cricket in India (BCCI) to be the new kit sponsor of the Indian cricket team, according to ANI.
MPL will reportedly shell out INR 120 crore for the three-year deal and succeed previous kit sponsor Nike.
According to Outlook, it was a "negotiated" deal and there was no bidding. However, Dream11 Sports, Puma, and Proline were interested too.
An unnamed source told ANI that the deal is effective from November 2020 till December 2023.
“The kit sponsorship amount is INR 65 lakh per match while merchandising is INR three crore per year for the three year period," the source added.
BCCI will also receive a royalty, amounting to 10 per cent on every jersey or merchandise sold by MPL.
MPL’s deal is significantly less than the reported INR 370 crore Nike paid BCCI in 2016 for a four-year period. The deal, which included a fee of INR 85 lakh per match and royalty of over Rs 30 crore to the board, ended in September 2020.
BCCI ended the 14-year partnership with Nike after the sportswear giant wanted to reduce its business footprint in India.
In August, BCCI had invited bids for the new team kit sponsor and official merchandising partner rights.
The Indian cricket team will visit Australia in November for a two-month long tour to play three T20 Internationals, three One Day Internationals, and four Test matches.
The players will leave for Australia after the Indian Premier League concludes on November 10. The players that are not part of IPL 2020, along with head coach Ravi Shastri have also left for the UAE and will join theIndian squad after the quarantine period.
MPL currently sponsors theKolkata Knight Riders (KKR) and Royal Challengers Bangalore (RCB) in IPL 2020, Trinbago Knight Riders (TKR) in the Caribbean Premier League (CPL) and the national team of the UAE and Ireland.