BYJU'S, MPL want to terminate sponsorship deal with BCCI
Two of the Indian cricket team's main sponsors, edtech majorand , want to exit from their sponsorship agreements with the BCCI.
In June, BYJU'S had extended its jersey sponsorship agreement with the Board until November 2023 for an estimated $35 million. The edtech major, which replaced Oppo in 2019, now wants to terminate its agreement with the BCCI, which has asked the company to continue at least until March 2023.
"BCCI received an email from BYJU'S on 4.11.2022 requesting terminating the association, post the recently concluded T20 World Cup. As per our discussions, we have asked them to continue the current arrangement and continue the partnership at least until 31.3.2023," read a BCCI note on the matter.
The matter was discussed at the BCCI Apex Council meeting on Wednesday.
BYJU'S was also one of the sponsors of the 2022 FIFA World Cup in Qatar.
The edtech company recently announced plans to lay off not more than 5% of its total strength of 50,000.
MPL wants to assign kit and merchandise rights to KKCL
The team kit and merchandise sponsor had conveyed to the BCCI for the complete assignment of its rights to Kewal Kiran Clothing Limit (KKCL). The existing contract is valid until December 31, 2023. MPL had replaced Nike back in November 2020.
"BCCI received an email communication from MPL sports on 2.12.2022 seeking a complete assignment (team + merchandising) at full value to Kewal Kiran Clothing Limited, a fashion wear brand, for the period from 1.12.2023 to 31.12.2023.
"With the upcoming back to back home series and the women's away calendar, it was suggested that the current arrangement should not be hampered as it involves performance gear for the national teams.
"We have asked MPL sports to continue the association at least until 31.3.2023 or look for a partial assignment that would involve only the right chest logo but not the kit manufacturing agreement," the note read.
Earlier this year, Paytm had transferred its title sponsorship rights for Indian cricket's home season to Mastercard.
Edited by Teja Lele