New Delhi: From September onwards, Indian Cricket Team will have a new brand name on their jerseys. The Chinese mobile manufacturer Oppo will hand over the sponsorship rights to Byju’s, a Bengaluru-based educational technology and online tutorial firm.
Team India will sport Oppo logo on their jerseys till the West Indies tour which commences from August 3 and ends on September 2. Byju’s will take over the jersey from September 15 once South Africa tour of India begins.
The deal between the BCCI and Oppo, which was inked in 2017 for a five-year period, was reportedly worth Rs 1079 crore. In March 2017, Oppo had won the Indian team sponsorship rights for a five-year period, i.e. till March 2022 for a whopping amount of Rs 1079 crores, outbidding Vivo mobiles’ Rs 768 crore bid.
The report further says that BCCI will continue to receive the same amount from Byju’s and will be at no loss for the entire duration of the deal which runs till March 31, 2022.
Byju’s, founded by Kerala-based entrepreneur Byju Ravindran, is valued at around Rs 38,000 crore after its latest tranche of funding concluded recently. It is being seen as “just the right kind of player to enter this space”, said industry sources.
