Byju’s stay on as India shirt sponsors, to pay BCCI 10% more
The Ed-tech platform came on board after taking over the sponsorship from Chinese mobile company Oppo in 2019 through a tripartite deal.
Ed-tech platform Byju’s will keep its place in front of Indian team jerseys. It is learnt its contract ending this month has been extended by BCCI until the October-November 2023 ODI World Cup.
“The Apex Council in its meeting last week had authorised the office-bearers to engage in discussions after the company had sought an extension. Following negotiations, it has been decided that it will stay as sponsors, under revised terms,” a BCCI official said on Monday.
As per the new deal, Byju’s will pay BCCI around 10% more than the current value. This also saves BCCI from having to go to the market in search of a premium deal. Byju’s had taken over the Indian cricket jersey sponsorship from Oppo in 2019 through a tripartite agreement. It inherited valuation of the old contract that amounted to paying ₹4.61 crore per bilateral match and ₹1.51 crore per match in an ICC event. Oppo’s original five-year (2017-22) deal with BCCI was worth ₹1,079 crore.
Byju’s decision to stay on with Indian cricket signals a tactical decision by the company with focus on international cricket. Before last year’s T20 World Cup in the UAE, they had also signed a contract with the ICC, becoming their global partners until the 2023 ODI World Cup in India.
With the deal extension with BCCI, they get to stay on as Indian jersey sponsors for the marquee events, this year’s T20 World Cup in Australia and next year’s ODI World Cup.