The Board of Control for Cricket in India [BCCI] has confirmed that the Indian cricket team is set to end their partnership with Chinese mobile manufacturer Oppo and hand the official Team India sponsorship rights to learning app BYJU’S (Think and Learn Private Limited).
BCCI's partnership with Oppo will end after India's tour of West Indies and the new sponsorship with BYJU's will last from 5th September 2019 until 31st March, 2022.
"The Board of Control for Cricket in India (BCCI) is pleased to welcome India’s leading education and learning app BYJU’S (Think and Learn Private Limited) as the official Team India sponsor from 5th September 2019 until 31st March 2022.
BYJU’S will be taking over all obligations of the current team sponsor OPPO mobiles India private limited (OPPO). BYJU’S will now be seen on the Indian team jersey from September 2019 when the home series against South Africa begins," BCCI said in a press release.
"On behalf of the BCCI, we would like to thank OPPO for its partnership with Indian Cricket. I congratulate BYJU’S on becoming the new Team India sponsor. BCCI and BYJU’S share a common vision and together we will take Indian Cricket forward," Mr. Rahul Johri, CEO, BCCI, said regarding the new deal.
The deal between the BCCI and Oppo, which was inked in 2017 for a five-year period, was reportedly worth Rs 1079 crore and BYJU's will pay the exact same to the Indian cricket noard.
Earlier, a Source said that the transfer is a "tripartite agreement" between Oppo, Byju's and the BCCI and will be signed on Thursday.
"The Oppo and Byju's are negotiating among themselves on the possible handover of shirt sponsorship deal. The CoA has been intimated that they are discussing among themselves on the transfer of sponsorship" a senior BCCI official told PTI on condition of anonymity.
In March 2017, Oppo won the Indian team jersey rights for a five-year period after outbidding Vivo mobiles' Rs 768 crore bid.
As per the deal, Oppo was paying BCCI Rs 4.61 crore per bilateral match and Rs 1.56 crore for an ICC event game.
(With inputs from PTI)
