Nike drags Virat Kohli to court for breach of contract
In its suit, the sports giant has claimed that Team India's rising star Virat Kohli breached their contract by disagreeing to continue as its brand ambassador till 2014.
The Karnataka High Court on Wednesday ordered issuance of emergent notice to cricketer Virat Kohli on a suit filed by sports giant Nike accusing him of breach of an endorsement contract with it.
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 filed on Tuesday, Nike claimed Kohli had breached the contract by disagreeing to continue as its brand ambassador till 2014. The five-year contract from 2008 was extendable by one year.
And a media report says that Nike entered into a contract with Virat Kohli from January 1, 2007 to December 31, 2007. The deal was renewed for the period between August 1, 2008 and July 31, 2013 for exclusive endorsement rights.
According to The Hindu, Kohli was paid Rs.1.42 crore for the contract that carried a clause for extension for another year i.e. till 31 July, 2014 with certain conditions.
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.