Nike is Team India's kit sponsor

New Delhi: Sportswear giant Nike has won the lucrative contract as the kit sponsor of the Indian cricket team for the next five years.

Nike had bid the highest at Rs 196.7 crore to get the sponsorship beating rivals Adidas and Reebok.

Announcing this soon after a meeting of the BCCI Marketing Committee on Friday, BCCI Vice-President Lalit Modi said, that the contract is from January 1, 2006 to December 31, 2010.

Nike will be allowed to display logos on the non-leading arm and the players’ shirts. The sports giant will also be allowed to manufacture and market merchandise for Team India.

The BCCI opened the tender bids for kit sponsors on December 15 and closed it on December 19.

Adidas bid Rs 127.50 crores while Reebok had bid Rs 119.48 crores. BCCI had asked for a minimum guarantee of Rs 1 million from the bidders.

Last time around Sahara had paid Rs 8.5 crores for sponsorship of the non-leading arm.

Modi also said that tender documents for broadcast rights will open next month. The BCCI is looking at other sponsorship opportunities as well.

This deal represents the first structured licensing programme that the BCCI has come out with.