In what appears to be a relationship turned sour, Team India’s emerging cricketer Virat Kohli is now at loggerheads with his long-time sponsor Nike. The sports giant has accused the Delhi batsman of breaching their endorsement contract.
The Karnataka High Court, acting on suit filed by Nike, ordered issuance of emergent notice to cricketer Virat Kohli on Tuesday.
Justice Huluvadi G Ramesh directed Kohli to maintain status quo for the next four weeks regarding endorsement deal signed with Nike and adjourned the case.
In its suit, Nike claimed Kohli had breached the contract by disagreeing to continue as its brand amabassador till 2014. The five-year contract from 2008 was extendable by one year.
Nike had entered into a contract with Virat Kohli from January 1, 2007 to December 31, 2007. Later, a fresh contract was signed for the period between August 1, 2008 and July 31, 2013 for exclusive endorsement rights.
According to The Hindu, Virat Kohli was paid Rs.1.42 crore for this contract that carried a clause for extension for another year, till July 31, 2014 with certain conditions.
While planning to extend the contract and also sign Kohli beyond 2014, Nike was shocked to receive a letter from Kohli on June 6, 2013. The sports giant claims that Kohli “made certain self-serving and baseless allegations with respect to implementation of the contract” and rejected its extension through the letter.
The firm also alleges that Kohli’s action was a result of non-acceptance of his unilateral and unreasonable terms suggested by him earlier.
Nike, in its suit, has pleaded with the court to restrain Kohli from entering into or negotiating any endorsement deal with any third party until the expiry of the deal, company counsel Aditya Sondhi said.