Byju’s payment due to BCCI; Paytm wants out as title sponsors

Indian cricket team's jersey sponsors Byju's reportedly owe the Board of Control for Cricket in India Rs 86.21 crores, a BCCI source told PTI after the BCCI's Apex Council Meeting.

However, a spokesperson from the Edutech company has refuted the claim. Clarifying that there are no pending dues, the spokesperson said that the contract between BCCI and Byju's has been extended; it is yet to be signed though.

He went on to further add that after the contract signed, payments will be released as per the contract.

Byju’s came on board as jersey sponsors in 2019 and in April, the BCCI agreed on extending the partnership until the 2023 ODI World Cup at a 10% increment.

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Meanwhile, title sponsor Paytm requested the Indian cricket board to transfer home cricket title rights to a third party, reportedly Mastercard. Their current agreement runs from September 2019 to March 2023.

Paytm, who were shelling out Rs 3.8 crores/match for the 4-year cycle had missed its timeline of extending their July deadline for reassignment of the sponsorship.