BCCI (Board of Control for Cricket in India) signs an exclusive sponsorship deal with MPL for Rs.120 crore and revenue shares. With this deal, MP will be the kit sponsor for the Indian Cricket Team, and BCCI will get 10% shares of merchandise that MPL sells.
MPL Sports is one of the most popular real-money based gaming platforms across India, and the famous cricketer Virat Kohli as its brand ambassador. With the deal, Virat Kohli will come out for sponsoring the Indian teams’ kits via MPL.
MPL Sports Apparel and Accessories will now replace Nike, the previous kit sponsor for the team since 2006. The last deal between Nike and BCCI was for four years and was worth 370 crore INR with an added charge of 30 crore INR royalty. During the deal, fresh tenders came floating out because Nike was expecting some concessions in the pricing due to the lowered down market amid the COVID-19 pandemic.
The deal between MPL and BCCI is too smaller than the previous one, reflecting the Sports merchandise market’s smaller size.
MPL is focused on bringing the best gaming experience to its fans online through our app, and we are extending that to the offline space through our exclusive range of merchandise including apparel and accessories.
India is a market with a billion cricket fans, and we see much potential in the underpenetrated merchandise market in India. We hope to partner closely with the BCCI and take all kinds of Team India merchandise to the masses – with offline as well as online distribution at affordable prices. Associating with the Indian national cricket team is a matter of huge pride for us, and we want every fan in the country to feel the same way and have access to the merchandise they can proudly flaunt.
Earlier, the deal was a negotiated one, and there was no added bidding available then.
Apart from MPL, other prominent firms were also interested in signing a partnership with BCCI, like Proline, Dream11 Sports, and Puma.
Some top Online gaming firms are already signing frequent deals with the cricket franchises, and the fantasy sports platforms are the leading ones among them. Recently, My11Circle also signed an agreement with the Lankan premier League for the sponsorship of the titles. That deal will execute from 26th November 2020 and last till 16th December 2020.
Moreover, Dream11 also took the title sponsorship deal for the Indian Premier league’s season 2020. This happened after Vivo stepped back from the agreement due to India’s clashes and the Chinese markets.