Bengaluru FC made their biggest ever signing in their half-decade existence, inking a lucrative four-year principal sponsorship deal with Kia Motors.
While officials from both BFC and the South Korean auto major were tight-lipped about the financial details of the partnership which was announced here on Friday, sources revealed it could be in the vicinity of USD 7 million (approximately Rs 51.8 crore).
"It's a bitter-sweet day for JSW (which owns BFC)," said BFC CEO Parth Jindal. "BFC is our baby and from day one JSW has been on BFC's jersey. However, from now onwards that name won't be there on their jerseys. It's saddening but then I'm very elated to see them sporting Kia henceforth. It's such a proud moment for us.
"Kia have been such great promoters of sport in the world. They sponsor the Australian Open, the LPGA, Europa League and also were principal sponsors of Atletico Madrid for seven years. They also have a deal with FIFA.
"For a company like Kia to select us is a privilege and honour. It validates the growth of the club and the ISL as well. For me the deal is priceless," said Jindal.
Skipper Sunil Chhetri hailed the association as the fruits of hard labour. "It's a monumental day for us. We've worked so hard, on and off the field, over the last five years and this a result of that."