Reports: India's jersey sponsor BYJU'S owes BCCI INR 86.21 crore

The jersey sponsor of the Indian cricket team Byju reportedly owes the Board of Control for Cricket in India (BCCI) INR 86.21 crore as dues. Meanwhile, Paytm, the title sponsor has also requested the board for the rights to be transferred to a third party.

It was only two months back that the BCCI and the Edtech company signed an extension of their partnership until the end of the 2023 World Cup, which will be hosted by India, with a 10 per cent rise. The matters were taken to the BCCI Apex Council on July 22, Thursday.

A Byju’s official stated that the contract with the BCCI has been extended but is not signed yet. “As of today, Byju’s owes dues of Rs 86.21 crore to the Board,” a BCCI official was quoted as saying by News 18.

Paytm requested BCCI for reassignment and the board is considering it

“We have extended the contract with the BCCI but it is not yet signed. After the contract signing is done, the payments will happen as per the contractual payment terms. So there are no dues pending from our side,” a Byju’s spokesperson was quoted as saying. The partnership between Byju’s and the BCCI began in 2019.

Meanwhile, the fintech company Paytm requested the BCCI to assign their title rights for India’s home series to Mastercard. Paytm already missed the July timeline to request reassignment of the title sponsorship. However, due to a long-lived relationship between the two parties, the BCCI would consider the request from the fintech company.

“Paytm has requested the BCCI for reassignment and the board is considering it,” said the BCCI official. In August 2019, Paytm signed an extended contract with the board for title sponsorship of international and domestic cricket matches at home for four years with a final bid of INR 3.80 crore per match.

The last home series was held in June, which was a five-match T20I series against South Africa. It ended in a 2-2 draw after the series decider was washed out due to rain in M. Chinnaswamy Stadium, Bengaluru.