BCCI Apex Council Meeting – BCCI Sponsorship Crisis: The Board of Control for Cricket in India (BCCI) is facing huge sponsorship crisis. Indian cricket team’s jersey sponsor Byju’s allegedly owes Rs 86.21 crore as dues to the BCCI. As for title sponsor PayTM, it wants out and has requested the board to transfer its rights to a third party. Follow Latest Cricket Updates with InsideSport.IN
It was only in April that the Edtech company and the BCCI had agreed on the extension of their partnership until the end of the 2023 ODI World Cup in India at a 10 percent increment. The issue was discussed by the BCCI Apex Council on Thursday.
BCCI Apex Council Meeting: BCCI facing HUGE sponsorship CRISIS, Byju’s owes Rs 86.21 Cr, PayTM wants to exit title sponsorship deal: Check details
BCCI Apex Council Meeting: BCCI facing HUGE sponsorship CRISIS, Byju’s owes Rs 86.21 Cr, PayTM wants to exit title sponsorship deal: Check details
“As of today, Byju’s owes dues of Rs 86.21 crore to the Board,” a BCCI source told PTI after the meeting.
Byju’s first came on board back in 2019 when mobile manufacturer Oppo transferred the sponsorship rights to the online tutorial firm.
BCCI Apex Council Meeting: Sponsorship Crisis at BCCI
- The other major discussion that dominated the meeting was regarding two sponsors: PayTM & Byju’s.
- The ed-tech start-up which is BCCI’s jersey sponsor owes the board Rs 86.21 Cr.
- The company is currently in crisis having laid off over 1000 employees.
- PayTM which is BCCI’s title sponsor for home series and domestic cricket.
- But the mobile payments and financial services company wants to exit the deal.
- As per reports, PayTM wants the rights to be transferred to Mastercard.
BCCI Apex Council Meeting: BCCI facing HUGE sponsorship CRISIS, Byju’s owes Rs 86.21 Cr, PayTM wants to exit title sponsorship deal: Check details
The start-up last month said that 500 people have been laid after reports suggested more than 1000 were fired. Paytm wants home cricket title rights to be shifted to Mastercard In other development, it has been learnt that fintech company Paytm has requested the BCCI to assign 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 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 had 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.
BCCI Apex Council Meeting: BCCI facing HUGE sponsorship CRISIS, Byju’s owes Rs 86.21 Cr, PayTM wants to exit title sponsorship deal: Check details
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