Byju's, MPL Sports wants to end sponsorship agreements with BCCI

Two of the major sponsors of the Indian cricket team, Byju's and MPL Sports, want to get out of their sponsorship deals with BCCI.

In June, Byju's extended its shirt endorsement deal with the board of directors through November 2023 for 35 million dollars. Byju now wants to terminate its agreement with BCCI, which required the company to continue until at least March 2023.

"The Board of Cricket Control in India (BCCI) received an email from Byjus on 4.11.2022 requesting the termination of the Association's participation in the recently concluded T20 World Cup. Based on our discussions with Byjus, we have asked them to continue with the current arrangement and continue the association at least until 31.3.2023”, said the BCCI note on this subject.

The matter was discussed at the BCCI's  board meeting on Wednesday.

The brand replaced Oppo in 2019. In addition, Byju sponsored the Qatar 2022 FIFA World Cup.

The edtech giant recently disclosed plans to reduce its 50,000-person workforce by no more than 5 percent.

MPL wants to assign rights of equipment and goods to KKCL

Team kit and the sponsor of the merchandise have requested BCCI to fully transfer their rights to Kewal Kiran Clothing Limited (KKCL). The current contract is in effect until December 31, 2023. MPL replaced Nike in November 2020.

“BCCI received an email from MPL sports on 2.12.2022 seeking a full value assignment (Equipment + Marketing) for Kewal Kiran Clothing Limited, a fashion clothing brand, for the period 1.12.2023 to 31.12.2023.