India’s Mobile-based sports fantasy company MPL on Monday signed a two year deal with BCCI for the kit sponsorship. The Board of Control for Cricket in India (BCCI) came into contract with fantasy giant for a period of two years for the jersey sponsorship.
The deal would yield BCCI a sum of Rs. 65 lakhs per match over the next three years starting from November 2020 until December 2023.
One of the apex council members of MPL spoke to the ANI and confirmed signing the contract with the BCCI and further explained the whole deal.
“Yes, we have signed a deal with MPL that is effective from November 2020 till December 2023. The kit sponsorship amount is Rs 65 lakh per match while merchandising is Rs 3 crore per year for the three year period. With that royalty will be 10 per cent of net sales per season,” the Apex Council member said.
The previous sponsor Nike had been associated with the BCCI for the kit sponsorship for over 15 years. Their association with the BCCI for the kit sponsorship came to an end after they did not show interest in extending the contract roll over for the next tenure.
The sporting apparel giant paid the BCCI a sum amount of Rs. 370 crores with a breakdown of Rs 85 lakh per match fee and royalty of over Rs 30 crore.
The BCCI had invited bids for the sponsorship this August and finally nailed the deal with MPL which is slightly lower than Nike’s deal.
Team India will first tour Australia for their first tour after the coronavirus pandemic. They will be seen donning the kit sponsored by MPL.