"Byju's is seeking to exit its jersey sponsorship deal with the BCCI as the edtech company works toward rationalising its media expenditure, sources close to the development told us.
Byju's has told the BCCI that it wants to call time on the sponsorship deal, the sources said. However, the company might continue as a sponsor until March 2023.
Partnership details: After Byju’s original deal term with the BCCI expired in March 2022, it extended the deal with the BCCI until 2023-end, for $55 million.
Per the terms of the fresh deal between the BCCI and Byju’s, the edtech major is paying roughly 10% more than its predecessor Oppo was paying on a per-match basis. Oppo was paying Rs 4.61 crore per bilateral match and Rs 1.56 crore per ICC match."
The company might continue as a sponsor until March 2023. "Byju's wants to walk out of the sponsorship deal with BCCI since it is optimising its media spends in India," a source close to the development said.