MUMBAI: Cricket?s loss might be Hockey?s gain as disgruntled Sahara Group is mulling renewing its agreement with Hockey India, which ended last month with a hefty increase in sponsorship fee.

The development comes even as the two parties are planning to engage in back-room parleys to hammer out a solution over several vexed issues like replacement player for Yuvraj Singh and reduction in franchise fee topping the agenda.

According to newswire PTI, Sahara and cash-strapped Hockey India will sign a new five-year deal worth around Rs 150-170 million.
 
The agreement would include men?s and woman?s team at both senior as well as junior level till 2017.

"More or less everything has been finalised. Most probably tomorrow, the agreement would be signed. We are hoping for a deal worth between Rs. 15 to 17 crore (Rs 150-170 million) because we need more money to promote the sport," an HI official has been quoted as saying.

Sahara India head of corporate communications Abhijit Sarkar said a decision will be taken in next two-three days.

"Nothing has been finalised as yet. Talks are on with Hockey India and within next 2-3 days we are expecting to take a decision," Sarkar said. "Our sponsorship deal with Indian hockey ended last month after and Hockey India has approached us to renew the contract," he added.

Sahara recently announced its decision to pull out of all cricketing activities which included franchise ownership of IPL team Pune Warriors India and shirt sponsorship of the Indian men?s and women?s team.

The company had indicated that it might step-up investments in other sports that it supports which includes Hockey, Boxing, Archery, and Shooting among others.