Lionel Messi and Byju’s three year deal is currently on hold. The lucrative deal was signed in November 2022. But now with financial crunch for the Ed-Tech giants, the deal with Messi has been put on hold. Messi in 2022 joined the brand as their Global Ambassador.
Reports claim that Byju’s paid Messi the money for the first year. But now the deal has been put on hold and can be terminated. Owing to their financial instability, Bjyu’s were also unable to renew the contract of KKR owner Shahrukh Khan. Back in the USA, a unit of Byju’s was pit into bankruptcy after incurring a debt of $1.2 billion.
“Bjyu’s paid Messi for the first year; it is yet to be decided whether the deal will be terminated before full term, or whether Byju’s plans to revive the contract in due course. This is on account of the liquidity crisis and other matters of serious concern within the company,” a Byju’s executives told Economic Times.
Byju’s shocked the World by signing the Argentine skipper just before the FIFA World Cup 2022. Messi was brought in for a $5-7 million per year deal. The Argentine sensation became the global ambassador for their campaign ‘education for all’
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