Two of the major sponsors of the Indian cricket team, edtech major Byju’s and MPL sports, want to withdraw from their sponsorship agreements with BCCI.
In June, Byju’s extended its shirt sponsorship agreement with the Board of Directors until November 2023 with an estimated value of $35 million. Byju’s now wants to terminate its agreement with BCCI, which has asked the company to continue at least until March 2023.
“BCCI received an email from Byju’s on December 4, 2022 requesting termination of the association after the T20 World Cup just ended. According to our discussions with Byju’s, we have asked them to continue with the existing agreement. at and continue to cooperate at least until March 31, 2023,” reads a BCCI note on the matter.
The issue was discussed at the BCCI Apex Board meeting on Wednesday.
The brand replaced Oppo in 2019. Byju’s is also one of the sponsors of the 2022 FIFA World Cup in Qatar.
The edtech company recently announced plans to lay off no more than five percent of its 50,000 employees.
MPL wants to transfer kit and merchandise rights to KKCL
The team’s merchandise and equipment sponsor referred BCCI to the outright assignment of its rights to Kewal Kiran Clothing Limited (KKCL). The current contract is valid until December 31, 2023. MPL replaced Nike in November 2020.
“BCCI received an email contact from MPL sports on 12/2/2022 looking for a complete mission (team sales) with full value for Kewal Kiran Clothing Limited, a trendy clothing brand pages, for the period from December 1, 2023 to December 31, 2023.
“Given the upcoming home leg series and the women’s away schedule, it is suggested that the current arrangement should not be hindered as it concerns performance equipment for the national teams. .
“We have asked MPL sports to continue the association at least until March 31, 2023, or seek part of the mandate that concerns only the right chest logo and not the kit production agreement,” reads. uncle wrote.
Earlier this year, Paytm transferred the main sponsorship rights for the home season of Indian cricket to Mastercard.
The center contract will be decided after the selection committee is established
The Apex Board is expected to decide on the player’s central contract but it will only be done after the formation of a new selection committee. BCCI sacked the council led by Chetan Sharma after the T20 World Cup in Australia.
This story was published from the wire dealer’s feed without text modification. Only the title has been changed.
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