(From left) Rennedy Singh, Sunil Chhetri, Bhaichung Bhutia, Baldeep Singh (Jr) and Anwar Ali with the AFC Challenge Cup and Nehru Cup in New Delhi on Tuesday

New Delhi: The shrinking profits in the oil sector have hit Indian football too.

According to sources in Oil and Natural Gas Commission (ONGC), the company, which has been supporting Indian football for the past three years, has decided to reduce the sponsorship for the forthcoming I-League by Rs 1 crore.

“Last year, we sponsored the I-League for Rs 7 crore,” a senior ONGC official said. “We were satisfied by the performance of the All India Football Federation (AIFF) but under the current situation, we were in no position but to offer only Rs 6 crore sponsorship.”

The official said that because of reduced profits, the company has been taking various cost-cutting measures and there were talks about decreasing the spending on sports too.

“In the directors’ meeting, there was a serious discussion whether the company should renew its contract with the AIFF. But since the national football team has been doing so well, it was decided to sponsor the I-League for Rs 6 crore,” the official added.

However, in a function on Tuesday, ONGC chairman R.S. Sharma handed over a cheque of Rs 16.32 lakh to AIFF president Priya Ranjan Das Munshi that will be distributed among the players who won the Nehru Cup. Bhaichung Bhutia was present in the function along with Rennedy Singh, Sunil Chhetri, Bungo Singh and Tarif Ahmed.

Earlier, Das Munshi said that the AIFF may postpone the start of the I-League by at least one week. “We were set to start on September 12, but the IFA has requested us to delay it by another 15 days so that they can complete their local league.

“We are meeting on August 29 to decide the issue. But I don’t think we will be able delay the start by two weeks… May be seven days,” Das Munshi said.

The AIFF president said he was looking for an exclusive sponsor for the national team till 2011. “To prepare the team in a proper manner, we need at least Rs 2 crore per year,” he said. “It’s a huge amount and it can only be raised through sponsors. Once our coach Bob Houghton returns, we will sit down and chalk out a plan for the Asian Cup.”

Das Munshi hinted that opinions of former players like Arun Ghosh will be sought in this matter.