Byju’s replaces OPPO as the Official Sponsor of Indian Cricket Team
Leading Smartphone Brand OPPO India had canceled the sponsorship midterm with Indian Cricket team. Byju’s a Bangalore based company has become the new sponsor till March 2022. OPPO India Smartphone company had a contract with the BCCI from March 2017. The company had offered Rs 1079 crores for a 5-year contract with the BCCI to be the official team sponsor and to have their logo on the Jerseys of Under 19, Men’s and Women’s Cricket Team. Byju’s contract will begin officially on 5th September 2019.
Byju’s is an ed-tech company that had tripled its revenue in the fiscal year 18’-19’. The company took over the official sponsorship in a deal with OPPO and it was reported that OPPO will be paying a small fee for covering the expenses of being the Sponsor. Byju’s sponsorship of Indian Cricket team arrived at a timing when the company is planning to launch its services abroad. Byju app offers a personalized learning experience for students.
OPPO had removed itself from the contract as it finds the cost too high to bear. BCCI will continue to receive the same amount first guaranteed by OPPO. OPPO had bought the rights to be the official sponsors for a price of Rs 1079 Crore which was double the price of BCCI’s reserve price.