Virat Kohli and German sportswear brand Adidas have decided against renewing a three-year partnership deal. The deal came to an end last month and the two sides decided against extending the endorsement contract.
Business daily LiveMint, quoted an unnamed source saying “It was an amicable decision made by both the parties”.
The deal with Adidas was reportedly worth Rs. 10 crore each over three years and he seemed to have taken over the mantle from his hero, Sachin Tendulkar.
“The association with Virat Kohli added a lot of value and helped strengthen the Adidas brand in the past few years, and we wish him well for his future. We will also continue to drive our key categories such as running, football, training and originals with even more focus and investments” the newspaper quoted an Adidas spokesperson as saying.
Adidas was the biggest deal for Kohli. His second biggest deal, reportedly worth Rs. 6.5 crore, was with tyre manufacturer MRF. There are several other brands that Kohli endorses, including Vicks, Boost, Pepsi, Audi and Smaash.
The decision by Adidas is a little surprising since Kohli is at the top of his game at present, averaging over 50 in each of the three formats of the game. Last week, he was appointed the captain of the Indian team in the two limited overs format of the game too.
Kohli is also red hot in the endorsement market, with 17 brands who are riding his popularity. Manyavar and Gionee have recently been added to the list of brands that the Indian captain endorses.
Adidas will continue to be associated with cricket and has Rohit Sharma and KL Rahul as their brand ambassadors.