Logo of the BCCI.© Twitter
The jersey sponsor of Indian cricket team Byju’s is reportedly owed Rs 86.21 crore to the BCCI while title sponsor Paytm has requested the board to transfer its rights to a third party. It was not until April that the Edtech company and the BCCI agreed to extend their partnership until the end of the 2023 ODI World Cup in India with a 10 percent increase. The matter was discussed by the BCCI Apex Council on Thursday.
“As of today, Byju’s dues of Rs 86.21 crore is owed to the Council,” a BCCI source told PTI after the meeting.
However, a spokesperson for Byju told PTI: “We have extended the contract with the BCCI, but it has not yet been signed. After the contract is signed, payments will be made according to the contractual payment terms, so there are no contributions from our side. “
Byju’s first came on board in 2019 when mobile manufacturer Oppo transferred the sponsorship rights to the online learning company. The start-up said last month that 500 people had been laid off after reports suggested more than 1,000 had been laid off.
Paytm wants home cricket title rights to be shifted to Mastercard
In another development, it has been learned that fintech firm Paytm has requested the BCCI to allocate their India Home Cricket title rights to Mastercard.
The current agreement between Paytm and the BCCI runs from September 2019 to March 31, 2023.
The company had missed the July timeline to request a reassignment of the sponsorship. However, given the “long-term” relationship between the two parties, the BCCI will consider Paytm’s request.
“Paytm has requested the BCCI for reassignment and the board is considering this,” the source added.
In August 2019, Paytm had extended his association as title sponsor for international and domestic cricket matches in India for four years with a winning bid of Rs 3.80 crore per match.
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