DAYS AFTER Sahara India Pariwar signalled its intentions to end its sponsorship of the Board of Control for Cricket in India (BCCI); it has signed a five-year renewal with the national governing body for hockey.
Sahara first sponsored Hockey India in 2003, signing an eight-year deal worth around $600,000 (R3 crore) per year. The deal expired in the summer of 2011 with the two parties extending for six months through January 2012.
The new deal, negotiated after India Hockey made approaches to Sahara to sign another long-term agreement, will see the partnership extend to the end of 2016 and is thought to be worth around triple the previous value. Frontloaded estimates Sahara will pay Hockey India around $2m per year (R10 crore).
While Sahara has expressed concerns over its lack of authority with Indian cricket it would seem all hope is not lost for the BCCI, with reconciliation meetings between brand and rights holder chiefs scheduled to take place this weekend.
However, Sahara’s increased investment for Hockey India is a clear warning sign that it will not part with vast amounts of cash with little concern for its opinion in return, and an example of just how easy it is for the conglomerate to deposit its surplus sponsorship dollars elsewhere.
By Luke Harman
luke.harman@sportbusiness.com