Byju’s replaces Oppo as Team India sponsor
MUMBAI: School learning app Byju’s has replaced mobile handset brand Oppo as the sponsor of the Indian cricket team. Byju’s deal runs from 5th September 2019 until 31st March 2022.
The company will be taking over all associated sponsor rights of the current team sponsor Oppo Mobiles India. Byju’s will now be seen on the Indian team jersey from September 2019 when the home series against South Africa begins.
According to a PTI report, the transfer of sponsorship rights is a tripartite agreement between Oppo, Byju’s and the BCCI. Oppo was paying Rs 4.61 crore per bilateral match and Rs 1.56 crore for an ICC game as Team India sponsor.
“Any transfer of sponsorship requires the interested parties to inform BCCI about negotiations. Accordingly, Byju’s and Oppo have informed about their discussion. The BCCI doesn’t stand to lose any money as the new company will pay exactly what the old one is paying. “The BCCI has a clause which allows the transfer of sponsorship. Since there is a secrecy clause, the financial dealings can’t be spoken about,” PTI quotes an official as saying.
Another official has been quoted as saying that the transfer could, in fact, translate into more money for the Board. “The BCCI stands to gain if there is a transfer of sponsorship. The two parties in question will have to pay an extra 10 percent (between them) and also give notice of six months. They must be negotiating who will carry the burden of those extra 10 percent,” the official said.
BCCI CEO Rahul Johri said, “On behalf of the BCCI, we would like to thank Oppo for its partnership with Indian Cricket. I congratulate Byju’s on becoming the new Team India sponsor. BCCI and Byju’s share a common vision and together we will take Indian Cricket forward.”
Byju’s founder, CEO Byju Raveendran said, “We are proud to be the Indian Cricket Team sponsor. Cricket is the heartbeat of all Indians and we are thrilled to be an integral part of our much-loved team. As a learning company, BYJU’S has always recognised the critical role that sport plays in a child’s development. Just as cricket inspires a billion budding dreams across India, we too as a learning company hope to inspire the love of learning in every child’s heart.”
Oppo India in a statement said, “We would like to thank Team India and BCCI for a meaningful association that led Oppo to become a household name in just five years of operations in India. As Oppo enters into its sixth year, India will continue to remain a key growth market. To meet rapidly growing consumer demand, Oppo will accelerate its efforts on local Production, R&D and Retail. This will help Oppo bolster its commitment to offer Indian consumers cutting-edge technology and a premium experience.”