NEW DELHI: Two of the main sponsors of the Indian cricket team, edtech major Byju’s and MPL sports, want to get out of their sponsorship agreements with the BCCI.
In June, Byju’s extended its jersey sponsorship deal with the Board through November 2023 for an estimated $35 million. Byju’s now wants to terminate its agreement with BCCI which has asked the company to continue at least until March 2023.
“BCCI received an email from Byju’s on 4.11.2022 asking to end the association after the recently concluded T20 World Cup. According to our discussions with Byju’s, we have asked them to continue with the current arrangement and to continue the partnership at least until 31.3.2023,” read a note from the BCCI on this subject.
The question was discussed at BCCI Apex Council Meeting Wednesday.
The brand had replaced Oppo in 2019. Byju’s was also one of the sponsors of the 2022 FIFA World Cup in Qatar.
The edtech company had recently announced plans to lay off no more than 5% of its total workforce of 50,000.
MPL wants to assign rights to kits and merchandise to KKCL
The team kit and merchandise sponsor had conveyed to BCCI the full assignment of its rights to Kewal Kiran Clothing Limit (KKCL). The existing contract is valid until December 31, 2023. MPL had replaced Nike in November 2020.
“BCCI received an email communication from MPL sports on 2.12.2022 requesting a full assignment (team + merchandising) at full value to Kewal Kiran Clothing Limited, a fashion clothing brand, for the period 1.12.2023 to 31.12.2023.
“With the upcoming back-to-back series at home and the women’s away schedule, it was suggested that the current arrangement should not be hampered as it involves performance equipment for national teams.
“We have asked MPL sports to either continue the association until at least 31.3.2023 or seek a partial divestiture which would only involve the right chest logo but not the agreement to manufacture the kit”, indicates the rating.
Earlier this year, Paytm transferred its title sponsorship rights for Indian cricket’s home season to Mastercard.
Central contracts to be decided after the formation of the selection panel
The Apex Council was to decide on central player contracts, but that would only be done after the new selection committee was formed. The BCCI had sacked the panel led by Chetan Sharma after the T20 World Cup in Australia.
In June, Byju’s extended its jersey sponsorship deal with the Board through November 2023 for an estimated $35 million. Byju’s now wants to terminate its agreement with BCCI which has asked the company to continue at least until March 2023.
“BCCI received an email from Byju’s on 4.11.2022 asking to end the association after the recently concluded T20 World Cup. According to our discussions with Byju’s, we have asked them to continue with the current arrangement and to continue the partnership at least until 31.3.2023,” read a note from the BCCI on this subject.
The question was discussed at BCCI Apex Council Meeting Wednesday.
The brand had replaced Oppo in 2019. Byju’s was also one of the sponsors of the 2022 FIFA World Cup in Qatar.
The edtech company had recently announced plans to lay off no more than 5% of its total workforce of 50,000.
MPL wants to assign rights to kits and merchandise to KKCL
The team kit and merchandise sponsor had conveyed to BCCI the full assignment of its rights to Kewal Kiran Clothing Limit (KKCL). The existing contract is valid until December 31, 2023. MPL had replaced Nike in November 2020.
“BCCI received an email communication from MPL sports on 2.12.2022 requesting a full assignment (team + merchandising) at full value to Kewal Kiran Clothing Limited, a fashion clothing brand, for the period 1.12.2023 to 31.12.2023.
“With the upcoming back-to-back series at home and the women’s away schedule, it was suggested that the current arrangement should not be hampered as it involves performance equipment for national teams.
“We have asked MPL sports to either continue the association until at least 31.3.2023 or seek a partial divestiture which would only involve the right chest logo but not the agreement to manufacture the kit”, indicates the rating.
Earlier this year, Paytm transferred its title sponsorship rights for Indian cricket’s home season to Mastercard.
Central contracts to be decided after the formation of the selection panel
The Apex Council was to decide on central player contracts, but that would only be done after the new selection committee was formed. The BCCI had sacked the panel led by Chetan Sharma after the T20 World Cup in Australia.
