Tendulkar had signed an exclusive contract with the bat-maker company in 2016.
Cricket legend Sachin Tendulkar has ended the lawsuit he filed against bat-maker Spartan in the Federal Court of Australia after the company apologized to him for a contentious "breach of contract".
The former India batsman had in 2016 entered into a worldwide exclusive sponsorship agreement with Spartan to promote its sporting goods and sportswear.
However, Tendulkar soon alleged that the company has failed to comply with its obligations under the agreement by not paying him royalties and endorsement fees as per the contract signed by both parties.
"Spartan sincerely apologizes to Tendulkar for its failure to honor his sponsorship agreement and is grateful for Tendulkar's patience in resolving this dispute," Les Galbraith, the COO of Spartan, stated in a joint press release, as the company kept using Tendulkar's name and image even after the termination of the agreement.
"Tendulkar provided his promotional services at various Spartan events in both Mumbai and London...he was unable to pursue other sponsorship opportunities for sporting goods and sportswear while the Spartan agreement was in place," the release stated.
The lawsuit was against a number of Spartan companies and their directors, Kunal Sharma and Galbraith. In which, Tendulkar alleged "breach of contract, misleading and deceptive conduct" by the company and saught "injunctions, damages as well as cancellation of trademarks".
"As part of the settlement, a number of the Spartan companies have submitted to judgment against them, and the Spartan group is permanently restrained by court orders from using Tendulkar's name, image and likeness including to falsely suggest any endorsement by Sachin Tendulkar," the joint statement further mentions.
"The Spartan companies also publicly acknowledged that Tendulkar has had no association with Spartan since September 17, 2018, when Mr. Tendulkar terminated their sponsorship agreement."
(Inputs from PTI)