New Delhi: The Board of Control for Cricket in India (BCCI) on Thursday announced that Bengaluru-based education and learning app Byju's, which is owned by Think and Learn Private Limited, has replaced Oppo India as the official Team India sponsor. The deal period will begin from 5 September, 2019 until 31 March, 2022.
Rahul Johri, chief executive, BCCI, said, “On behalf of the BCCI, we would like to thank Oppo for its partnership with Indian cricket. I congratulate Byju's on becoming the new Team India sponsor. BCCI and Byju's share a common vision and together we will take Indian Cricket forward."
Byju's will be taking over all associated sponsor rights of the current team sponsor Oppo Mobiles India Private Limited. Byju's logo will be seen on the Indian team jersey September 2019 onwards when the home series against South Africa begins.
Byju Raveendran, founder and chief executive of Byju's said: "We are proud to be the Indian Cricket Team sponsor. Cricket is the heartbeat of all Indians and we are thrilled to be an integral part of our much loved team. As a learning company, Byju's has always recognised the critical role that sport plays in a child's development. Just as cricket inspires a billion budding dreams across India, we too as a learning company hope to inspire the love of learning in every child's heart."
In March 2017, Oppo offered to pay ₹1,079 crore, almost double the Board of Control for Cricket in India’s (BCCI’s) reserve price of ₹538 crore. Vivo had bid ₹768 crore. Both Oppo and Vivo are subsidiaries of BBK Electronics Corp.
OPPO India in an official statement said, “We would like to thank Team India and BCCI for a meaningful association that led OPPO to become a household name in just five years of operations in India. As OPPO enters into its sixth year, India will continue to remain a key growth market. To meet rapidly growing consumer demand, Oppo will accelerate its efforts on local production, R&D and retail. This will help Oppo bolster its commitment to offer Indian consumers cutting-edge technology and a premium experience."
Oppo’s five-year deal, which was to end in March 2022, included the right to be called the official team sponsor and the right to display a commercial logo on the clothing of the men’s cricket team, the under-19 side, the men’s A-Team and the women’s squad.
Both the companies are said to have signed a tripartite agreement with BCCI after which the board will not lose any money as the new company will pay exactly what the old one is paying.