India cricketers may have another brand name on their jerseys September onward. Bangalore-based online educational technology company Byju’s is probably going to replace Chinese mobile company Oppo on the team’s jersey.
Oppo in March 2017, had won the sponsorship rights for Rs 1,079 crore for a time of five years. for example, till March 2022. It had outbid Vivo mobiles’ Rs 768 crore offer.
However, Oppo has now taken the choice to stop the space as it finds the incentive at which it procured the rights in the year 2017 to be “amazingly high” and “unsustainable”, as indicated by a one of the newspapers’ report.
The report additionally included that the BCCI will continue getting a similar sum from Byju’s. Subsequently, it will be at no misfortune all through the arrangement which keeps running till March 31, 2022.
“Fundamentally, what Oppo has done is cut its losses. They’ve reassigned the rights to Byju’s. They will pay Byju’s a minor sum to help make the full payment when Byju’s will pay BCCI. The board will get what was/is due,” sources said.
Oppo was paying Rs 4.61 crore for India-opponent matches and Rs 1.56 crore for an ICC event match. Preceding to that STAR India was paying Rs 1.92 crore and Rs 61 lakh respectively.