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.
Jul 31 | South African all-rounder Jacques Kallis has decided to call it a day from all forms of the international game. However, he shal continue to play club cricket. Kallis, who quit Test cricket in ... Read more
Jul 24 | Forbes Magazine has named Indian cricket team captain Mahendra Singh Dhoni as the fifth most financially valuable athlete on earth. He is succeeded by other sportstars like Roger Federer, Tiger ... Read more
Jul 16 | England's cricketer Jimmy Anderson has been charged under level 3 of the code of conduct by the International Cricket Council (ICC). Anderson has been charged with allegedly "abusing and pushing ... Read more
Jul 15 | Cricketer MS Dhoni is not good enough to be India's Test captain, according to former Australia captain Ian Chappell. He says that Dhoni is past his prime when it comes to captaincy. And it would do ... Read more
Jul 04 | Russian tennis star Maria Sharapova could never knew have guessed the price of not knowing cricket legend Sachin Tendulkar. Fanatical Tendulkar fans could not accept the fact that she didn't know ... Read more