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Star want a discount, Byju’s ask BCCI to encash bank guarantee
In a BCCI Apex Council meeting, it also came for discussion that bilateral media-rights holders Disney Star want a discount in their current deal.
It is clear the Board of Control for Cricket in India (BCCI) will have to move on from their jersey sponsors Byju’s. In an emergent BCCI Apex Council council meeting held virtually, it was discussed that the ed-tech company wants their contract bank guarantee worth approximately ₹140 crores to be encashed.
The Byju’s contract runs until the end of the ODI World Cup, scheduled in October-November. Byju’s had first written to the board that they wanted to end the contract after the conclusion of last November’s T20 World Cup. The Indian board has asked them to stay on until the end of the ongoing home bilateral cricket season which runs until March end.
Byju’s have been BCCI sponsors 2019 onwards and only last year had agreed to extend their deal. Facing a funding crunch, they are now slashing their marketing spends in India.
Byju’s are the second company after MPL, BCCI’s kit sponsors, who are moving out of their deal. MPL’s rights were recently taken over by apparel makers Killer.
Disney Star wants discount
It was also discussed in the meeting that BCCI’s bilateral cricket media-rights holders Disney Star are seeking a discount of over ₹130 crores. Star’s contention is that they are being overcharged for the 6-match limited overs home series against South Africa, held last September-October. Some of these matches were rescheduled matches, following the cancellation of a 3-match ODI series in March 2020 due to the Covid pandemic. The media rights fee as per the 5-year contract involved a much higher pay-out in the final year - ₹78.9 crores per match, while it was ₹46.5 crores in the third year when these matches were originally scheduled.
With the next round of media-rights deals to hit the market this year, BCCI officials are confident of being able to settle the matter amicably with the broadcasters. Star had won the bilateral rights back in 2018 for ₹6138.10 crores which translates to ₹60.1 crores per match on average.
