BCCI: All is not well with the Byjus and Paytm of the Cricket Board of India (BCCI). Byju’s is the sponsor of the team’s jersey. Byjus owes BCCI crores of rupees and title sponsor Paytm wants to leave the side of BCCI.
Byjus owes so much money
Byjus, the sponsor of the Indian cricket team’s jersey, owes BCCI Rs 86.21 crore, while ‘title’ sponsor Paytm has requested the board to give its rights to third parties. In April itself, edtech company Byjus and the BCCI had agreed to extend their partnership till the end of the 2023 ODI World Cup to be held in India, which was increased by 10 percent. The issue was discussed in the BCCI Apex Council meeting on Thursday.
Wants to leave with Paytm
A BCCI source told PTI after the meeting, “So far, Byju’s owes the board Rs 86.21 crore.” However, a Byjus spokesperson told PTI, “We have extended the contract with BCCI, but it has not been signed yet.” Once the contract is signed, the payment will be made as per the terms of the agreement. So there is no amount due from our side. Paytm also wants to leave the side of BCCI.
Paytm has agreement till 2023
At the same time, it has been learned that fintech company Paytm has requested BCCI to give its India domestic cricket ‘title’ rights to Mastercard. The current agreement between Paytm and BCCI is from September 2019 to March 31, 2023. “Paytm has requested BCCI to hand over the sponsorship to another company and the board is looking into it,” the source said. In August 2019, Paytm extended its association as a ‘title’ sponsor of international and domestic cricket matches in India for four years.
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