The Indian team will be seen sporting the jersey with the new brand name from the day their home series begins against South Africa on September 15. Meanwhile, the all-new sponsor Byju’s will be paying the same amount as Oppo to the BCCI until 2022.
In the past, Sahara had been one of the main sponsors for a long period of time but eventually got replaced by Star.
In March 2017, Oppo won the Team India jersey rights for a period of 5 years, thanks to their offer of Rs 1079 crores getting the better of Vivo’s Rs 768 crore bid.
The Chinese mobile manufacturer, Oppo was paying the BCCI Rs 4.61 crore per bilateral match and Rs 1.56 crore for an ICC tournament. But before the completion of the mutually decided tenure, Oppo opted to exit as they felt that continuing with the exorbitant value was not feasible for them anymore.
Hence, they have now handed over the sponsorship rights to a well-known Bengaluru-based learning app in the edu-tech space – Byju’s.
As per the reports, a “tripartite agreement” between Oppo, Byju’s and the BCCI will be signed on Thursday.
“The Oppo and Byju’s are negotiating among themselves on the possible handover of shirt sponsorship deal. The CoA has been intimated that they are discussing among themselves on the transfer of sponsorship,” a senior BCCI official to PTI.
“The BCCI stands to gain if there is a transfer of sponsorship. The two parties in question will have to pay an extra 10 percent (between them) and also give a notice of six months. They must be negotiating who will carry the burden of those extra 10 per cent,” added the official.
As far as the to-be sponsor Byju’s is concerned, this is exactly what the industry sources told the TOI:
“They’ve been looking for branding exercises of this volume. It’s (Team India jersey rights) just the kind of space they wanted to get into. At the moment they fit absolutely well here.”
The upcoming tour of the West Indies is the last time Team India will be wearing the jersey with the Oppo logo on it.