Star India, the media rights holder for India’s home season, has cut BCCI (Cricket’s Control Board of India) by Rs 130 crore on existing contracts. An estimated Rs value will be redeemed. 140 million to honor the current agreement.
BCCI executives said he deliberated on the two issues for more than an hour at his Apex Council meeting on Monday. It was a virtual meeting.
In November, Byju’s told her BCCI that she wanted to stop sponsoring him for his Indian cricket team uniforms, but the board told edtech that at least he would continue until March 2023. I told you.
However, in June, BYJU extended his sponsorship of his shirt with BCCI until November 2023 for an estimated $35 million. Approximately INR 140 crore will be paid to BCCI by bank guarantee, while the remaining INR 160 crore will be paid in installments.
“In the meeting, he only talked about Byju and Star India, which he continued for more than an hour. , a BCCI source told PTI.
Byju’s, one of his FIFA World Cup sponsors, plans to turn profitable by March by laying off about 2,500 of his 50,000 employees.
Star India seeks his 130 crore rebate
It was also revealed at the meeting that Star India paid Rs. India’s international and domestic cricket rights worth Rs 6,138.1 crore for the period 2018-2023 have around Rs 130 crore in rebates on existing deals. Several games under contract have had to be postponed due to the COVID-19 pandemic.
“The issue has been discussed at length, but the board has yet to issue a final statement,” the source added.
The development comes as BCCI prepares to sell media rights in his next five-year cycle after his current contract expires in March.
Considering the media rights of the IPL (Indian Premier League), a staggering Rs has been achieved. 48,390 Crores, BCCI expects another windfall.