The Board of Control for Cricket in India (BCCI) has some issues on its hands as reports have indicated that Team India jersey sponsor Edtech company Byju’s owes BCCI a payment of INR 86.25 crs.
Byju’s and BCCI signed a deal in April this year to extend their partnership until the end of the 2023 ODI World Cup in India at a 10 percent increment.
“As of today, Byju’s owes dues of Rs 86.21 crore to the Board,” a BCCI source told PTI.
A Byju's spokesperson told PTI: “We have extended the contract with the BCCI but it is not yet signed. After the contract signing is done, the payments will happen as per the contractual payment terms. So, there are no dues pending from our side.”
Byju’s came on as jersey sponsors in 2019, after Chinese mobile makers Oppo transferred the rights to them. The start-up last month said that 500 people have been laid off after reports suggested more than 1000 were fired.
On the other hand, Paytm wants to exit as a title sponsor and has requested to transfer its 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 for reassignment of the sponsorship. However, considering the “longstanding” relationship between the two parties, the BCCI will consider Paytm’s request.
“Paytm has requested the BCCI for reassignment and the board is considering it,” the source added.
In August 2019, Paytm extended its association as the title sponsor for international and domestic cricket matches in India by four years with a winning bid of Rs 3.80 crore per match.
(PTI inputs)
