Shiv Naresh replaces Li Ning as official sponsor Tokyo Olympics
Indian apparel company Shiv Naresh has replaced Li Ning as the official sponsor for sporting kits for the Tokyo-bound Indian delegation. The Indian Olympic Association (IOA) dropped Li Ning unceremoniously last week after facing uproar for continuing with the Chinese brand apparel despite announcing intention to cut ties last year after the Galwan Valley clash.
Shiv Naresh, one of the regular suppliers of sports kits before IOA’s Rs 6 crore contract with the Chinese company, will supply new kits for the India squad without any branding. The Sports Ministry has given its consent to refund the amount. It is understood that the IOA had to hand Li Ning over Rs20 lakh to break the contract.
The Indian sports apparel company will be paid as there will be no branding on the kits, which will have to be of a new design.
