LG decides not to renew its contract with ICC

New Delhi, Mar 29 | Updated: Mar 30 2007, 07:09am hrs
The untimely exit of India from the World Cup has turned cricket and cricket stars into a liability, at least for the time being. Consumer durable firm LG, which is a big spender on the game has decided not to renew its contract with ICC when it expires on April 24. LG had an eight-year contract with ICC since 1999.

LG's VP sales and marketing Girish V Rao said, " LG India will not renew its contract with ICC after the world cup." He said that ICC is still in talks with our global head in Korea and other cricket playing nations like Australia, South Africa, England and Pakistan and come to a decision of taking forward their contracts.

However, Videocon and TCL are sticking to their contracts with the players.

Videocon and TCL were the only durable companies that had hired cricketers as their brand ambassadors to cash in on world cup where as other biggies like LG, Philips and Samsung had shied away from hiring them this world cup. The companies, however have no plans to terminate their contract with the cricketers as there are international series that will follow after the world cup and the companies are adopting a wait and watch situation.

Now, it all depends on the nature of the contract between the company and the celebrity. There is a common termination clause in every contract signed between the company and the cricketer according to which if the cricketer is not playing international cricket or representing its country for three months continuously or two series (one series comprise of three test matches and five ODIs), the company can terminate its contract.