Byju’s Said to Owe Over Rs. 80 Crore to BCCI, Paytm wants to exit as title sponsor

Indian cricket team jersey sponsor Byju allegedly owes Rs. 86.21 crore is the fee for BCCI while the title sponsor Paytm has asked the board to transfer its rights to a third party.

Only in April, the Edtech company and BCCI agreed on the extension of their partnership until the end of the 2023 ODI World Cup in India with an increase of 10%.

The matter was discussed by the BCCI Apex Council on Thursday.

“As of today, Byju’s Debt fee Rs. 86.21 crore to the Board, “a BCCI source told PTI after the meeting.

Byju’s first appeared in 2019 as a mobile device manufacturer Oppo has transferred the sponsorship rights to the online guide company.

Started last month speak that 500 people were laid off after reports showed more than 1000 people were laid off.

In another development, it was learned that the fintech company Paytm requested BCCI to transfer their Indian Home Cricket Championship title rights to Mastercard.

The current agreement between Paytm and BCCI is valid from September 2019 to March 31, 2023.

The company missed the July deadline to request a reassignment of the grant. However, considering the “longstanding” relationship between the two parties, BCCI will consider Paytm’s request.

“Paytm has asked BCCI to re-appoint it and the board is looking into it,” the source added.

In August 2019, Paytm extended its association as title sponsor for international and domestic cricket matches in India for another four years with a winning bid of Rs. 3.80 crore per game.

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