BCCI Apex Council Meeting: BCCI Faces HUGE Sponsorship Crisis, PayTM Wants OUT: Check WHY?


BCCI Apex Council Meeting: BCCI Sponsorship Crisis: The Cricket Control Board of India (BCCI) is facing a huge sponsorship crisis. Indian…

BCCI Apex Council Meeting: BCCI Sponsorship Crisis: The Board of Control for Cricket in India (BCCI) is facing a huge sponsorship crisis. The Indian cricket team shirt sponsor, Byju’s, is expected to BCCI Rs 86.21 crore. As for title sponsor PayTM, it wants out and has asked the board to transfer its rights to a third party. Follow the latest cricket updates with InsideSport.IN

It was only in April that Edtech and BCCI agreed to extend their partnership until the end of the 2023 ODI World Cup in India with a 10% increase. The matter was discussed by the BCCI Apex Council on Thursday.

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BCCI Apex Council Meeting: BCCI Facing HUGE Sponsorship CRISIS, Byju’s Owes Rs 86.21 Cr, PayTM Wants to Quit Title Sponsorship Deal: Check Details

“To date, Byju’s owes a contribution of Rs 86.21 crore to the board of directors”, a BCCI source told PTI after the meeting.

Byju first arrived in 2019 when mobile phone maker Oppo transferred sponsorship rights to the online tutorial company.

BCCI Apex Council Meeting: Sponsorship Crisis at BCCI

  • The other major discussion that dominated the meeting concerned two sponsors: PayTM & Byju’s.
  • The ed-tech start-up which is the sponsor of the shirt of BCCI owes the board of directors Rs 86.21 Cr.
  • The company is currently in crisis after laying off more than 1,000 employees.
  • PayTM which is the title sponsor of BCCI for home series and domestic cricket.
  • But the mobile payments and financial services company wants to end the deal.
  • According to reports, PayTM wants the rights transferred to Mastercard.

BCCI Apex Council Meeting: BCCI Facing HUGE Sponsorship CRISIS, Byju’s Owes Rs 86.21 Cr, PayTM Wants to Quit Title Sponsorship Deal: Check Details

BCCI Apex Council Meeting: BCCI faces HUGE sponsorship crisis, Byju's owes Rs 86.21 Cr, PayTM wants to exit title sponsorship deal : BCCI Sponsorship Crisis

The start-up said last month that 500 people had been made redundant after reports suggested more than 1,000 had been made redundant. Paytm wants home cricket title rights transferred to Mastercard In another development, it has come to light that fintech company Paytm has applied to BCCI to assign its home cricket title rights in India to Mastercard.

The current agreement between Paytm and BCCI runs from September 2019 to March 31, 2023. The company had missed the July deadline to request the sponsorship reassignment. However, taking into account the “long time» relationship between the two parties, BCCI will consider Paytm’s request.

“Paytm has asked BCCI for a reassignment and the board is considering it”, added the source.

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

BCCI Apex Council Meeting: BCCI Facing HUGE Sponsorship CRISIS, Byju’s Owes Rs 86.21 Cr, PayTM Wants to Quit Title Sponsorship Deal: Check Details

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