02 Nov 2020: MPL becomes Team India's kit sponsor for three years
Notably, the move came after the cricket board ended its association with Nike for the same.
Meanwhile, the deal with MPL will run from November 2020 to December 2023.
Here is more.
Fact: An Apex Council member speaks on the deal
"We have signed a deal with MPL. The kit sponsorship amount is Rs 65 lakh per match, while merchandising is Rs. 3 crore per year for three years. Royalty will be 10 per cent of net sales per season," an Apex Council member revealed.
Details: Here are the further details
As per reports, the BCCI will earn Rs. 65 lakh per game over the three-year period, with this deal.
Moreover, the board will also get a revenue share of 10 percent for every jersey or merchandise sold by MPL.
It has been learned that the deal was closed after negotiations, while there was no bidding.
The other interested parties were Dream11, Puma, and Proline.
Fact: The deal is worth Rs. 120 crore plus revenue share
It is understood that the BCCI's deal with MPL is worth Rs. 120 crore plus revenue share. Earlier, it was reported that Nike, the previous kit sponsor of Team India, was unhappy with the existing deal amid the ongoing pandemic and wanted a deduction.
MPL: What is MPL?
Mobile Premier League (MPL) is a mobile e-Sports platform based in India, wherein users can compete in multiple skill based mobile gaming tournaments.
It was launched in 2018 and counts Sequoia India as one of its investors.
MPL is currently associated with two IPL franchises (KKR and RCB), a CPL franchise, and the cricket boards of Ireland and the UAE.
Australian tour: India to tour Australia in November
Team India will don the new jerseys in the impending tour Down Under, starting November 27.
This will be the first bilateral assignment for them since cricket reinstated, following the COVID-enforced break.
The two teams will play three ODIs and T20Is, followed by a four-Test series.
Earlier this week, the BCCI announced Team India's squad (all three formats), for the tour.