NRAI closes in on multi-million dollar deal with online gaming company

The contract, pending approval, will only be the second instance of an Indian Olympic sports federation roping in a sizeable sponsor in the last two years.

The National Rifle Association of India (NRAI) is set to announce the signing of a multi-million-dollar sponsorship deal with an online gaming platform. (Representative Image)   -  Getty Images

The National Rifle Association of India (NRAI) is set to announce the signing of a multi-million dollar sponsorship deal with an online gaming platform shortly.

The contract, pending approval, will only be the second instance - since the Wrestling Federation of India's three-year multi-crore agreement with Tata Motors in 2018 - of an Indian Olympic sports federation roping in a sizeable sponsor in the last two years.

D.V. Seetharama Rao, secretary-general of the federation, confirmed the development to Sportstar. "It [talks regarding the deal] is very much in the embryonic stage. No specific details have come out as of now. There are a lot of discussions happening to and fro regarding the finalisation of the documentation," he said.

Hopeful of India recording best-ever medal haul in Tokyo Olympics: Bindra  

It has been learnt that the deal would be worth $1 million per year extending until two cycles of the Summer Games. The apex body of shooting in the country is expected to formalise the deal come the first Rifle/Pistol/Shotgun ISSF World Cup of 2021 starting March 18 in New Delhi.

Rao, however, wasn't too willing to disclose the name of the sponsor. "The negotiations are still on and a concrete decision is yet to be arrived at. Once the legal committee and athlete committee agree and the plans and packages are put on paper, there will be a proper announcement," he said.

Olympic shooting team back on track: High-performance coach Deepali  

If a favourable decision is arrived at, elite shooters may soon be eligible for annual contracts.