Byju’s to replace Oppo on Indian team jersey
Come Septemeber, India’s jerseys will have a new brand name with Byju’s set to replace Oppo. The men’s team will continue to sport the Chinese mobile-maker’s logo through the series against West Indies that begins in August, but starting with the men’s and women’s home series against South Africa in September, Byju’s— the Bangalore-based educational technology and online tutorial firm—will be on the jersey.
A little over two years ago, in March 2017, Oppo had won the Indian team sponsorship rights for a five-year period, for a whopping total of Rs 1079 crores, outbidding Vivo mobiles’ Rs 768 crore bid. They were thus paying BCCI Rs 4.61 crore per bilateral match and Rs 1.56 crore for an ICC event match. Before that, STAR India used to pay Rs 1.92 crore per bilateral match and Rs 61 lakh for an ICC match.
However, according to a report in Times of India, Oppo has now decided to exit the space because it finds the value at which it acquired the rights in 2017 to be “extremely high” and “unsustainable”.
It is understood that Byju’s will continue to pay BCCI the same amount that Oppo had promised. The board will therefore incur no loss for the entire duration of the deal which runs till March 31, 2022.