Team India are set to have a new brand name on their jerseys. The present logo of Chinese mobile-maker Oppo will be replaced by Byju’s, the Bangalore-based educational technology and online tutorial firm, according to a report in the Times Of India.
When
Team India will sport the Oppo logo on their jerseys till the West Indies tour, which will commence from August 3 and end on September 2. Once, the South Africa tour of India begins from September 15, Byju’s will take over the jersey.
Why
In March 2017, Oppo had won the Indian team sponsorship rights for a five-year period, i.e. till March 2022 for Rs 1,079 crores, outbidding Vivo mobiles’ Rs 768 crore bid.
However, according to the Times of India report, 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”.
Oppo was paying BCCI Rs 4.61 crore per bilateral match and Rs 1.56 crore for an ICC event match. Before that, STAR India used to pay Rs 1.92 crore per bilateral match and Rs 61 lakh for an ICC match.
What Next
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 will run till March 31, 2022.
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