BCCI Apex Council Meeting: Star India want BCCI to avail discount; BYJU'S ask for encashment guarantee

Star India, the Indian cricket team’s home season media rights holder, have requested the Indian cricket board for a discount of INR 130 crore in the existing deal at the BCCI Apex Council Meeting on Monday, as per a report in the Indian Expess. 

Meanwhile, edtech giants BYJU’S, the BCCI’s outgoing sponsors, have asked the Indian cricket board to encash bank guarantee worth an estimated INR 140 crore to honour the current agreement.

Only Byju’s and Star India issues were discussed in the meeting: A BCCI source

“Only Byju’s and Star India issues were discussed in the meeting but that also took well over an hour. It was a serious matter involving millions of dollars so naturally it took time,” a BCCI source said as quoted as saying by The Indian Express.

“The issue was discussed at length but the board is yet to take a final call on it,” the source added.

Star India had paid a staggering INR 6138.1 for India’s international and domestic cricket rights for the 2018-2023 cycle.

BYJU’S, on the other hand, had extended its jersey sponsorship contract last year with the BCCI till November 2023 for a phenomenal amount which is estimated at USD 35 million.

A sum of INR 140 crore is expected to be paid to the BCCI through bank guarantee while the remaining amount which is estimated to be around INR 160 crore will be cleared in installments  according to reports.

Earlier, the Mobile Premier League (MPL) had reportedly transferred Team India’s jersey sponsorship rights to fashion wear brand KKCL. MPL had signed a three-year contract with the BCCI in November 2020 until December 31, 2023. They had succeeded Nike for this prestigious deal.

For a better experience: Download the CricTracker app from the IOS App Store and Google Play Store