Byju's is a Bengaluru-based educational technology and online tutorial firm. The e-learning startup is backed by Facebook co-founder Eduardo Saverin.
The Indian cricket team will be seen with a new brand on their jerseys from September this year. Learning app Byju’s will take over the sponsorship rights from Chinese mobile maker Oppo.
Oppo had signed a five-year deal with the Board of Control for Cricket in India (BCCI) in 2017. The sponsorship rights deal was reportedly worth Rs 1079 crore.
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Virat Kohli-led side would be next seen in action against the West Indies from August 3. They would then face South Africa at home, where the side is expected to spot the Bjyu’s jersey.
The deal between BCCI, Oppo and Byju’s is expected to be signed on Thursday, news agency PTI reported. The transfer will be a “tripartite agreement”, the report said. A senior BCCI official said that Oppo and Byju’s were negotiating among themselves over a possible takeover of the shirt sponsorship deal.
As per the existing deal, Oppo pays BCCI Rs 4.61 crore for every bilateral match and Rs 1.56 crore for games in an ICC tournament. The jersey rights deal had been finalised in March 2017, where Oppo had outbid Vivo mobiles. Vivo made a bid of Rs 768 crore, while Oppo reportedly topped it with Rs 1079 crore.
The BCCI is likely to benefit from the transfer of sponsorship. Another BCCI official told PTI that the two parties will have to pay an extra 10 percent to the cricket board.
Byju’s is a Bengaluru-based educational technology and online tutorial firm. The e-learning startup is backed by Facebook co-founder Eduardo Saverin.
India was knocked out of the recently concluded ICC World Cup 2019 after a defeat to New Zealand. The Men in Blue would be looking to bounce back in the series’ against West Indies and South Africa. India would play three one-day internationals (ODIs), three T20Is and two Test matches in the Caribbean before coming back home to face South Africa.