The Indian cricket team jersey will no longer read “OPPO INDIA” from the front as Oppo have decided to take back the sponsorship. The team India jersey, after the West Inides tour will sport Byju’s instead of Oppo.
According to Times of India (TOI), the Chinese mobile making company have decided to exit the space as they find the price “too expensive” and “unsustainable”. Bengaluru based online tutoring establishment, Byju’s will take the space on the Indian jersey.
Oppo won the rights on the Indian jersey in 2017 when they made a winning bid of Rs. 1079 crores. According to the contract, Oppo were paying Rs. 4.61 crore per bilateral match and Rs. 1.56 crore for every match in an ICC event.
Byju’s will continue to pay the same amount to BCCI and BCCI will not incur any loses according to TOI’s statement.
“Basically, what Oppo has done is cut its losses. They’ve assigned the rights to Byju’s. THey will pay Byju’s a minor amount to help make full payment while Byju’s will pay BCCI. The board wil continue to get what is due to it,” a source close to BCCI told TOI.
Byju’s is an education technology firm established in 2015, and is endorsed by Bollywood superstar Shah Rukh Khan. According to TOI, Byju’s were looking for good branding exercises and getting into the Indian jersey was perfect for them.
“They’ve (Byju’s) been looking for branding exercises of this volume and it’s (Team India jersey rights) is just the kind of space they wanted to get into. At the moment they fit absolutely well here,” sources told TOI.
Earlier, the deal for the same space on the Team India jersey was owned by Star which was much cheaper than the current one. Star, until 2017, used to pay Rs. 1.92 crore per bilateral series match and Rs. 61 Laks for every match of an ICC event.