The new deal is reportedly worth around US$65 million, a third more than the previous five-year agreement, although exact financial details have not been disclosed. The previous deal, which was initially due to expire in December 2010, was extended to incorporate the Cricket World Cup, an event that India co-hosted and ultimately won.
“Nike, the official apparel sponsors for the Indian national cricket team since December 2005, has extended its contract for a period of five years with the BCCI,” read a statement from the sportswear giant.
Nike India managing director Tarun Puri told NDTV: “The extension of our contract for apparel sponsorship with the BCCI is testimony to Nike's commitment to providing the most innovative products to the Indian national cricket team and to the BCCI.”
