Team India jersey: Oppo to make way for Byju’s on the front of India’s jersey from home series against South Africa in September
Chinese mobile company Oppo’s two-year stint with Team India’s limited overs jersey will soon come to an end after the team’s tour of West Indies in August 2019.
As per the reports, come September, Oppo will make way for Bangalore-based educational technology and online tutoring firm- Byju’s.
As per the sources in the scheme of things, the Chinese company has decided to exit the space and reallocate the rights to Byju’s as it now finds the value at which it had originally acquired the rights in the year 2017, as ‘extremely high’ and ‘unsustainable’.
“Development took place around two weeks ago”- Sources
As per the sources the development took place around two weeks ago and Oppo will be seen on the front of the Indian Team’s jersey only till the upcoming limited-overs series versus West Indies in August. The home series against South Africa will mark the beginning of Byju’s stint and as per the reports, “work is already in progress” on that front.
BCCI will continue to receive the same amount from Byju’s and technically will be at no loss for the entire duration of the deal, which runs up to March 31, 2022, said a BCCI source.
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“Basically, what Oppo has done is cut its losses. They’ve reassigned the rights to Byju’s. They will pay Byju’s a minor amount to help make the full payment while Byju’s will pay BCCI. The board will continue to get what is due to it”, sources said.
Oppo had made a winning bid of about Rs 1,079 Crores for the jersey rights in March 2017 for a period of five years. This works out to be Rs. 4.6 Crores for a bilateral match, and Rs. 1.56 Crores for an ICC/Asia cup match.
In the previous deal, Star had paid the BCCI Rs 1.92 crores per bilateral and Rs 61 lakh per ICC and Asia Cup game.