12BET India News: MPL Sports signed three-year deal to be India’s new kit sponsor

12BET India News MPL Sports signed three-year deal to be India's new kit sponsor

Fantasy gaming platform Mobile Premier League (MPL) has signed a three-year deal with the Board of Control for Cricket in India (BCCI) to become the new apparel sponsor of the Indian cricket team. As confirmed by an APEX Council member this week, the deal is from November 2020 till December 2023 and will see the board earn Rs 65 lakh per game over the three-year period.

“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 told a news portal. India’s first tour in the post-coronavirus era will be the Australia series.

Earlier, Cricket Australia (CA) confirmed the status of India’s tour Down Under with the BCCI, last week, already named the squads for four Tests, three One-Day Internationals (ODIs) and three Twenty20 Internationals (T20Is) on the November 27-January 19 tour. The India squad are due to arrive in Sydney on November 12 to serve their 14 days in quarantine.

The tour will consist of three T20Is, three ODIs and four Tests. The ODI series will form part of the ICC Men’s Cricket World Cup Super League, while the Test series will see the sides battle for top spot in the ICC World Test Championship. However, India’s contract with sports apparel giant Nike, who was India’s kit sponsor since 2006 has ended last September.

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In August, the BCCI had invited bids for the team kit sponsor and official merchandising partner rights through a tender process to replace outgoing sponsor Nike, who requested to extend its contract at a reduced rate which BCCI did not agree. Nike had a five year deal during which they paid ₹370 crore from 2016 to 2020 with a ₹30 crore royalty.

Surprisingly, the governing body did not receive a lot of interest from other potential sponsors. However, with the new deal with MPL, the Indian team will not head to Australia without a kit sponsor. It has been learned that the deal was closed after negotiations, while there was no bidding. The new deal’s value is said to be higher than the base price but short of the previous deal.

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