The Bengaluru-based online tutorial company will replace mobile major Oppo.
Oppo will be seen on the Team India jersey only till the end of the forthcoming West Indies series.
The BCCI will incur no loss, as it will continue to receive the same amount from Byju's for the entire duration of the deal, which runs up to March 31, 2022, a BCCI source said. That's why they couldn't continue as the Indian team's official sponsor. This means that Team India will soon be sporting BYJU's branding instead of Oppo on their jerseys. Being the sponsor of the Indian cricket team which draws throngs of fans from around the world is the flawless exposure vehicle for BYJU'S as it looks to take on global edtech players.
According to a report by Times of India, it was in the year 2017 when Oppo had outbid Vivo to win the sponsorship rights for Rs 1,079 crore for a period of five years. i.e. till March 2022.
A Source said that the transfer is a "tripartite agreement" between Oppo, Byju's and the BCCI and will be signed on Thursday.
School learning app Byju's has replaced mobile handset brand Oppo as the sponsor of the Indian cricket team.
Oppo was making a payment of Rs 4.61 crore per bilateral match and Rs 1.56 crore for an ICC event match. "Essentially the rights would have been assigned to another company without a process that is transparent", the official pointed. The home series against South Africa will mark the beginning of Byju's stint and as per the reports, "work is already in progress" on that front.
Echoing the sentiments another official also pointed at how CEO Rahul Johri should have informed the board officials about the whole discussion on the transfer of sponsorship.
- RS (@AwaraRish) July 25, 2019With #byjus becoming the jersey sponsor of @BCCI 's #TeamIndia, another coaching term for @RaviShastriOfc can earn him the epithet of BYJU BEWRA.
Another official said the transfer could, in fact, translate into more money for the board.
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