BYJU’s, Bengaluru based online tutorial firm replaces OPPO on the Team India jersey. OPPO will pay a fee to BYJU’S for transferring the sponsorship rights. BYJU’S will be the sponsor till 2022.
Team India is one of the most televised sports teams in the world. So what better way to spread the word about your brand and company than to grace the signature blue jerseys of the team.
BYJU’S reportedly has that much-desired spot now, replacing Chinese mobile brand OPPO.
OPPO had paid Rs 1,079 Cr for the right to be on the jersey in 2017 but now finds the price too high and unsustainable.
The Chinese brand, OPPO is assigning the rights to BYJU’S according to a Times Of India Report, and work on the front is already in progress.
OPPO has pulled out of Team India's sponsorship deal. In 2017, they had clinched the deal for 5 years for 1079 crore but now they think the price they paid was extremely high & unsustainable. OPPO will be replaced by BYJU which is a an educational & online tutorial firm… @BCCI— Navneet Mundhra (@navneet_mundhra) July 25, 2019
Byju’s to sponsor Team India from September this year. They will replace OPPO in the coming home series. pic.twitter.com/VUluQLEBA7— Aditya (@StarkAditya_) July 25, 2019
OPPO would also pay BYJU’S, a small fee to cover for the expenses of being the sponsor, while the Board for Control of Cricket in India (BCCI) would continue to receive the same amount that OPPO had bid.
BYJU’S would hold the rights for the sponsorship till March 2022.
After back-to-back massive funding rounds over the last year, BYJU’s, the Bengaluru-based edtech unicorn has tripled its revenue to INR 1,430 Cr ($204.36 Mn) in FY18-19.
By: Abhinav Ranjan, Editorial Desk, DKODING Media