MUMBAI: The BCCI is likely to give Indian cricket team’s jersey sponsor Byju’s, who allegedly owes Rs 86.21 crore as dues to the Board, time till the “first half of October,” failing which its bank guarantee will be encashed, TOI has learnt.
The decision was taken in the Board’s apex council meeting on Thursday.
As per a BCCI document (TOI has a copy), it has been mentioned that “as of 16.7.2022, Bjyu’s following payments have been overdue: 1) Rs. 22,22,76,000 (Net of TDS) March 2022 as of (previous contract term). 2) Invoice amounting to Rs. 106.49 Crores from June – July 2022 (new term) is raised, out of which Rs 86.21 Crores is due (as on 21 July 2022). Bjyu’s hasn’t furnished the new bank guarantee yet.”
BCCI may accede to Paytm’s request
In the BCCI’s apex council meeting, it had also emerged that title sponsor Paytm had requested the Board to transfer its rights to a third party, Mastercard.
The BCCI is likely to give a green signal to Paytm’s request. A BCCI document mentions that, “Given the COVID situation, during the last 2 years, Paytm’s many businesses have needed to make dynamic changes in their plans and marketing spends.
On 1.7.2022, Paytm sent an official request to BCCI for assigning their Indian home cricket title sponsorship rights to a global leader in its category, Mastercard.”
The decision was taken in the Board’s apex council meeting on Thursday.
As per a BCCI document (TOI has a copy), it has been mentioned that “as of 16.7.2022, Bjyu’s following payments have been overdue: 1) Rs. 22,22,76,000 (Net of TDS) March 2022 as of (previous contract term). 2) Invoice amounting to Rs. 106.49 Crores from June – July 2022 (new term) is raised, out of which Rs 86.21 Crores is due (as on 21 July 2022). Bjyu’s hasn’t furnished the new bank guarantee yet.”
BCCI may accede to Paytm’s request
In the BCCI’s apex council meeting, it had also emerged that title sponsor Paytm had requested the Board to transfer its rights to a third party, Mastercard.
The BCCI is likely to give a green signal to Paytm’s request. A BCCI document mentions that, “Given the COVID situation, during the last 2 years, Paytm’s many businesses have needed to make dynamic changes in their plans and marketing spends.
On 1.7.2022, Paytm sent an official request to BCCI for assigning their Indian home cricket title sponsorship rights to a global leader in its category, Mastercard.”
For all the latest Sports News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsUpdate is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
