BYJU’S, India’s jersey sponsor, has a liability to the BCCI of INR 86.21 crore
BYJU’S, India’s jersey sponsor, has a liability to the BCCI of INR 86.21 crore: By, the company responsible for the jersey sponsor of the Indian cricket team that owes BCCI around 86.21 crores as dues have asked BCCI to transfer the rights of title sponsorship to a third party. In contrast, Paytm, the company that is already being paid a sum by BCCI has requested for this right also to be transferred.
In just the last two months, the BCCI and the Edtech company have renewed their partnership extension until 2023. The contract simply provides a 10 per cent increase, worth $1 billion in additional advertising revenue to BCCI.
An official of Byju´s stated that the contract with the Board of Control for Cricket in India has been extended but is not yet signed. “As of today, Byju’s owes dues to the BCCI which are Rs 86.21 crore,” a BCCI official was quoted by News 18 as saying.
Paytm and Indian Premier League’s BCCI deal:
“The BCCI has extended its contract with Byju’s and we look forward to partnering with the BCCI for many years to come,” a spokesperson for Byju’s told reporters. After the contract between Byju and BCCI was signed, all payments will follow the contractual terms. There are no current dues from our end, which have been paid.”
Paytm has asked the BCCI to give it the title sponsorship rights for India’s home series. The company has missed a crucial period- July- for requesting to switch from Mastercard to Paytm but will be granted their request due to the long-lasting relationship between the two parties.
The BCCI has been requested for reassignment by Paytm, and the board is considering it. In August 2019, Paytm signed an extended contract with the board for title sponsorship of international and domestic cricket matches for four years with a final bid of INR 3.80 crore per match.
A 2-2 draw was the result of a five-match T20I series between India and South Africa in June. The series ended when a rain-out forced the match to be cancelled.
BYJU’S, India’s jersey sponsor, has a liability to the BCCI of INR 86.21 crore