BCCI invited bids, seeking a new kit sponsor and sales partner rights

BCCI invited bids for new kit sponsor and sales partner rights

The Board of Control for Cricket in India has on Monday invited bids for the rights of the team's new kit sponsor and official sales partnership through a tender process. The contract of Nike, the team's current apparel rights holder, is set to expire next month, so the board has initiated a new tender process to replace it.

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The sports apparel giant had signed a four-year agreement with BCCI for Rs 370 crore with a royalty of Rs 30 crore. The winning bidder under the invited tender will have the kit sponsor and / or official sales partner and various rights related to it.

According to the BCCI release, 'The terms and conditions governing the submission and evaluation of bids, including eligibility requirements and obligations, are contained in the ITT, which will be available from August 3, 2020 on receipt of payment of the tender fee of Rs 1 lakh.' The ITT will be available for purchase until August 26.

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According to the release, "BCCI reserves the right to cancel or modify the bidding process at any stage without any reason at its discretion. Just buying ITT will not give the right to bid, but the bidder will have to buy ITT in the name of the person / institution willing to bid. '