Indian Cricket Sponsor – PayTM Ready to Quit Indian Cricket? Another BCCI sponsor is ready to QUIT the sponsorship deal with Indian cricket mid-way. According to available information, the digital payment company PayTM has informed the BCCI that they are not interested in continuing as Title Sponsor of the Indian cricket. PayTM has further requested that the rights may be assigned to Mastercard. But the board is yet to approve the said request: Follow Indian Cricket LIVE Updates with InsideSport.IN
- Paytm had signed the deal for ₹326.80 crores in 2019.
- The deal was suppose to continue till 2023
- The winning bid was ₹3.80 crore per Match. This was at 58% incremental value in comparison to the previous per match value of ₹2.4 crores.
- In 2015, Paytm for the 1st time became title sponsor of Indian cricket.
- Now PayTM has requested BCCI to assign the rights to Mastercard.
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Indian Cricket Sponsor: PayTM want to ‘LET-GO’ the title sponsorship rights, requests BCCI assign the same to Mastercard: Follow LIVE UPDATES
PayTM Ready to Quit Indian Cricket? BCCI yet to give approvals to the PayTM offer: The BCCI during the Apex Council meeting in Mumbai has confirmed the development. As reported earlier by InsideSport, the matter was agenda of the Apex Council meeting.
A source in BCCI confirmed the development to InsideSport but said PayTM request has not been timely and at this stage can’t be considered.
“Yes, they have sent in a request for the trasfer of the rights. It is correct there is a provision for assignment of Rights to a third party. But such request should have been made before 1st July”, confirmed the BCCI source to InsideSport.
What’s wrong with the BCCI Sponsors?
Sponsors leaving the BCCI contracts midway has become norm of sorts. Earlier OPPO left its Indian team JERSEY sponsorship deal MID-WAY and the rights were transferred to Byju’s
In IPL as well VIVO recently left the deal mid-way and the rights were passed on to TATA GROUP.
Byju’s Deal for Team Jersey also becomes Questionable? As per a report by PTI on Thursday, all is also not well between the BCCI and its national team sponsor Byju’s.
The agency has reported that Byju’s payment are overdue by 86.21 Crore as of July 2022. The leading Edtech company also hasn’t paid 22.22 Crore for the previous contract term till March 2022.
Other than this Bjyu’s hasn’t furnished the new bank guarantee yet.
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