New Delhi: From September onwards, Team India will have a new brand name on their jerseys. Chinese mobile-maker Oppo will be replaced by Byju, the Bengaluru-based educational technology and online tutorial firm.
Team India will sport the Oppo logo on their jerseys until the West Indies tour, which commences from August 3 and ends on September 2.
Once South Africa’s tour of India begins from September 15, Byju’s emblem will take over the jersey.
In March 2017, Oppo won the Indian team sponsorship rights for a five-year period, i.e. till March 2022 for a whopping amount of Rs10.79 billion, outbidding Vivo mobiles’ Rs7.68 billion bid.
However, according to a report in Indian media, Oppo has now decided to exit the space because it finds the value at which it acquired the rights in 2017 to be “extremely high” and “unsustainable”.
The report further says that BCCI will continue to receive the same amount from Byju’s and will be at no loss for the entire duration of the deal which runs till March 31, 2022.
Oppo was paying BCCI Rs46.1 million per bilateral match and Rs15.6 million for an ICC event match. Before that, STAR India used to pay Rs19.2 million per bilateral match and Rs6.1 million for an ICC match.