Sponsorship

IOA Sponsorship Deal with RIL Under Fire, Loss of ₹24 Crore Alleged

By Nilay October 11, 2024 0

The Indian Olympic Association (IOA) has been embroiled in a controversy over its sponsorship agreement with Reliance Industries Limited (RIL), which has been deemed “faulty” by the Comptroller and Auditor General (CAG). The CAG report alleges that the IOA has incurred a loss of ₹24 crore by granting RIL additional rights to four more Games (Winter Olympics 2026, 2030 and Youth Olympic Games 2026, 2030) at the same cost.

As per the initial agreement, RIL was made the principal partner till 2028 for ₹35 crore for the Asian Games (2022, 2026), Commonwealth Games (2024, 2028), and Olympics (2024 Paris and 2028 Los Angeles). However, the CAG report found that the IOA extended the tenure of the agreement to 2030 without any additional consideration.

IOA treasurer Sahdev Yadav has expressed concerns that the “potential value of such a deal would be considerably higher than what was proposed and agreed upon in the renegotiated agreement with RIL.” He also highlighted that India’s bid to host the 2030 Youth Olympic Games, whose sponsorship rights were given to RIL for free, could lead to a potential loss of over ₹100 crore.

President PT Usha has defended the deal, stating that the Executive Council members were part of the discussion during the renegotiation process. However, Yadav has refuted this claim, stating that even sponsorship committee chairman Rohit Rajpal had not given his consent.

The controversy has escalated, with the IOA accusing Yadav of being responsible for the IOC not releasing financial grants. Yadav has countered that the financial reports are meant to be signed by the president, CEO, and treasurer, and that he cannot sign on reports when the CEO’s appointment has not been ratified.

The IOC has expressed concerns over the ongoing governance issues within the IOA, particularly the obstruction to the ratification of the CEO’s appointment. The IOC has emphasized that this has hindered the IOA’s ability to function effectively.

Categories: Others

IOA President PT Usha Defends Sponsorship Renegotiation, Accuses EC Members of Obstruction

By Nilay October 9, 2024 0

Indian Olympic Association (IOA) President PT Usha has defended her decision to renegotiate the sponsorship agreement with Reliance Industries Limited (RIL), stating that executive committee members were aware and involved in the discussions.

Usha’s actions came under scrutiny after a Comptroller and Auditor General (CAG) report alleged a loss of ₹24 crore to IOA due to RIL being granted four additional events without extra payment. However, Usha claims that the renegotiation was necessary to protect the rights fee of ₹35 crore payable by RIL.

According to Usha, RIL sought to reduce the rights fee by 50% after the International Olympic Committee (IOC) clarified that sponsor branding at the India House during the Paris Olympics would be limited to the inside of the NOC House. This would have deprived RIL of significant brand mileage.

Usha convened a meeting with RIL representatives and Rohit Rajpal, Chairman of IOA’s sponsorship committee, on September 20, 2023, to discuss the options. These included terminating the sponsorship agreement, accepting the 50% reduction in rights fee, or negotiating with RIL to ensure the establishment of the NOC House at Paris and protect future cash flow.

Usha maintains that all EC members, including Kalyan Chaubey, were informed of the discussions and were part of the decision-making process. She also highlights that Rajpal had spoken to RIL directly.

Usha’s comments come amid ongoing tensions with EC members over the appointment of Raghu Iyer as CEO. The EC has objected to Iyer’s pay package and has not ratified his appointment. Usha has called an SGM later this month to address the matter.

Usha expressed frustration with the EC’s behavior, accusing them of creating problems and attempting to “usurp power.” She cited examples of EC members seeking inappropriate positions and privileges, such as becoming Ski and Snowboard Chairman despite having no experience in winter sports.

Despite the challenges, Usha remains optimistic that the impasse will be resolved and that preparations for the Paris Olympics and India’s bid for the 2036 Olympics will not be affected.

Categories: Others

Manchester City Wins Legal Battle Against Premier League’s APT Rules

By Nilay October 7, 2024 0

Manchester City’s legal victory against the Premier League’s Associated Party Transaction (APT) Rules has sent shockwaves through the football world. The tribunal’s ruling has not only overturned the league’s decision to block two of City’s sponsorship deals but has also raised serious questions about the fairness and legality of the APT system.

The APT rules were designed to prevent clubs from inflating the value of sponsorship deals with connected parties, such as their owners or sponsors. However, the tribunal found that the rules were discriminatory and violated UK competition law. The tribunal also ruled that the Premier League had abused its dominant position by applying the rules unfairly to Manchester City.

The Premier League has welcomed the tribunal’s findings, but it has also acknowledged that the APT rules need to be revised. The league has said that it will work with clubs to make the necessary changes.

The Manchester City case is a significant development in the ongoing debate about the regulation of football finances. The tribunal’s ruling has shown that the Premier League’s APT rules are not fit for purpose and that the league needs to do more to ensure that its rules are fair and transparent.

The tribunal’s findings are also likely to have implications for other sports leagues around the world. The APT system is a common feature of sports regulation, and the Manchester City case could set a precedent for challenges to similar rules in other leagues.

Categories: Football

Taylor Fritz Scores Dream Chipotle Sponsorship, Unveils Hugo Boss Kit

By Nilay March 9, 2024 0

Taylor Fritz, the world’s No. 12 tennis player, has secured a dream sponsorship deal with Chipotle, the American fast-casual restaurant chain. Fritz, a self-proclaimed Chipotle enthusiast, has frequently expressed his love for the restaurant’s burrito bowls and guacamole.

The partnership, announced on social media, will provide Fritz with free Chipotle meals through a Chipotle Celebrity Card. This perk aligns perfectly with Fritz’s post-workout dietary preferences, as he often indulges in a Chipotle bowl after intense training sessions.

Fritz’s Chipotle sponsorship is not the only recent major move for the tennis star. Earlier this week, he announced his departure from Nike and signed with Hugo Boss as his new apparel sponsor. The German luxury fashion brand will outfit Fritz both on and off the court, including for official events and interviews.

Fritz’s decision to join Hugo Boss reflects his commitment to delivering his best on and off the court. He is inspired by the brand’s values of self-determination and authenticity.

Fritz’s sponsorship deals with Chipotle and Hugo Boss highlight his growing status as a marketable athlete. His love for Chipotle resonates with fans, while his partnership with Hugo Boss aligns with his personal style and aspirations.

Fritz is currently competing in the BNP Paribas Open in Indian Wells, where he is seeded No. 12. He will face Alejandro Tabilo in the second round on Saturday.

Categories: Tennis

Taylor Fritz Signs Apparel Deal with Hugo Boss

By Nilay March 6, 2024 0

Taylor Fritz, the world’s 12th-ranked tennis player, has signed a new apparel sponsorship deal with Hugo Boss. The deal will see Fritz wear Hugo Boss apparel on and off the court, including at all official events, red-carpet moments, and interviews.

Fritz, who previously wore Nike apparel, said he is excited to join the Hugo Boss family. “In both my tennis career and my personal life, I strive to deliver 110%, embrace new challenges, and stay true to myself–so I’m inspired by the brand’s values of living a self-determined life and ‘being your own BOSS,’” Fritz said in a statement.

Hugo Boss CEO Daniel Grieder said that Fritz “perfectly embodies” the brand’s values and hailed him as a “great personality, on and off the court.” “With this collaboration, we are further expanding our commitment in tennis and strengthening the 24/7 lifestyle approach of BOSS,” Grieder added.

Fritz is seeded 12th in the BNP Paribas Open in Indian Wells, California, and will debut his new Hugo Boss look in the second round against either Pavel Kotov or Alejandro Tabilo.

Fritz joins Matteo Berrettini, who’s worn Hugo Boss since 2022, as high-profile clients on the ATP tour. The brand also recently announced its foray into women’s tennis apparel by signing rising young Germans Noma Noha Akugue, 20, and Ella Seidel, 19.

Categories: Tennis

IOA Sponsorship Deal with RIL Under Fire, Loss of ₹24 Crore Alleged

IOA President PT Usha Defends Sponsorship Renegotiation, Accuses EC Members of Obstruction

Manchester City Wins Legal Battle Against Premier League’s APT Rules

Taylor Fritz Scores Dream Chipotle Sponsorship, Unveils Hugo Boss Kit

Taylor Fritz Signs Apparel Deal with Hugo Boss

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