In a recent turn of events and after a long discussion in the BCCI Apex Council on Thursday, it is now being learned that edtech giant Byjus will have to pay 86.21 crores to the BCCI and the board's title sponsor Paytm too has expressed their wish to end the partnership and transfer its rights to a third party.
Apparently, in April, the Board of Control for Cricket in India (BCCI) along with the edtech company had agreed on the extension of their partnership until the end of the 2023 ODI World Cup in India at a 10 percent increment. The partnership between Byju's and BCCI began in 2019 after OPPO opted out. Earlier on Thursday, the BCCI Apex Council discussed the matter in detail.
"As of today, Byju's owes dues of Rs 86.21 crore to the Board of Control Control for Cricket in India", said a BCCI source after the meeting. The start-up last month said that 500 people have been laid off after reports suggested more than 1000 were fired. On the contrary, Byju's spokesperson said "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 no dues are pending from our side".
In another development, it has been learned that fintech company Paytm has requested the BCCI to assign their India Home Cricket title rights to Mastercard. The current agreement between Paytm and the BCCI runs from September 2019 to March 31, 2023. The company had missed the July timeline to request for reassignment of the sponsorship.
However, considering the "longstanding" relationship between the two parties, the BCCI will consider Paytm's request.
"Paytm has requested the BCCI for reassignment and the board is considering it," said a source close to the BCCI. In August 2019, Paytm had extended its association as the title sponsor for international and domestic cricket matches in India by four years with a winning bid of Rs 3.
