Cricket’s loss, it seems, is hockey’s gain. Barely a couple of days after Sahara ended their association with the BCCI, the business conglomerate is on the verge of extending its sponsorship with Hockey India, for an amount that is speculated to be three times more than what it was.
The deal, which is expected to be formalised by the end of this week, will run for a period of five years until 2017 and will be in the range of Rs10 crore per year for all teams (men’s, women’s and junior boys and girls). That is a steep raise from the earlier deal, which was worth approximately Rs3 crore per year for all teams.
The representatives of Sahara and Hockey India are currently working on the nitty-gritty’s of the deal. Hockey India secretary general Narendra Batra confirmed the development to DNA. “We held discussions with Sahara officials on Monday. There has been a positive step forward and we are in the process of completing the paperwork. However, I can only go into the details once all the formalities are completed and the documentation is done,” Batra said.
Hockey India and Sahara were locked in a battle over the sponsorship amount for nearly six months. The previous contract expired on July 15, 2011, and had been temporarily extended for six months until a solution was reached. Hockey India had demanded Rs15 crore per year from Sahara if the deal had to be renewed. Sahara wasn’t ready to renew the deal under such demands, which they found too high.
“With the Olympic qualifiers round the corner, a decision was needed on this matter. Finally, both parties seem to have reached a common ground,” an official involved in getting the deal done said. “The renewed amount for the deal, which shall be for a period of five years, will be substantially more than what it was earlier.
The priority is to get the contract renewed before the qualifiers start.”
Comments