Cricketer Virat Kohli's sponsor, Nike, has a bone to pick. The global giant sued Kohli over an alleged breach of contract. He may not be allowed to negotiate endorsement deals with any party before July 2014.
Nike sued the cricketer, prompting the Karnataka High Court to order an emergent notice sent to Virat Kohli. He had apparently breached their endorsement contract through a 'self-serving and baseless' manner.
Kholi was paid close to Rs1.5 crores for a 5-year contract that was extendable by one year. He is bound to Nike's endorsement from 1 August 2008 to 31 July 2013. These exclusive rights for endorsement are extendable for 1 year based on a clause in the contract.
The sports company alleged that Virat Kohli rejected the extension through a letter citing unreasonable terms. Presently, Kohli is supposed to maintain status quo for the next month, based on the Judge's orders.
Until the deal expires, Nike doesn't want Kohli to get into negotiations with third parties and has requested the court to restrain him from the same.
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