Byju’s ‘pending payment’ to BCCI incorrect, says cricket board; deplores a “deliberate leak” | Cricket News

MUMBAI: The cricket industry erupted on Friday morning, questioning the “work ethic” of some unidentified people in the ecosystem who chose to selectively report to the media that the official sponsor of the BCCI jersey Byju‘s owes the cricket board an outstanding amount of Rs 86.21 crore.
Exactly three years ago, in September 2019, Byju’s replaced Oppo on the India team jersey and this contract is now pending renewal. BCCI and Byju are in discussions to extend the contract and only a “formal signing of the agreement” is expected.
Reacting to media reports that Byju owes money to BCCI to the tune of Rs 86.21 crore, industry sources told TOI: “The pending money relates to the number of matches after the expiration of the contract and although the new contract is ready, it has not been signed yet. Thus, the pending amount can only be released once the contract is signed”.
BCCI’s main sources also agreed that Byju’s had settled all its past payments to the cricket board, in accordance with the existing contract, and also admitted that the cricket board is in possession of a bank guarantee from Byju’s which far exceeds the “pending amount”. ” as quoted in the media.
“If it is true that Byju’s amount is pending, then all BCCI has to do is cash the bank guarantee. Why doesn’t he? Obviously because the previous contract is over and the new contract – while it has been agreed – has not yet been signed. No matter how eager both parties are to renew the contract, how can payments be made without it being signed first? say the connoisseurs.
BCCI officials have lamented over the past 12 hours how selective and misleading information leaks are hurting their own interests lately. The amount leaked to the media – Rs 86.21 crore – is so specific that someone who had direct knowledge of it leaked it hours after the BCCI Supreme Council meeting ended and those in the know say that the information is false because there is no contract in place yet.
“At a time when the BCCI wants Supreme Court to view it as a body that functions in accordance with the constitution and is free from wrongdoing, such reporting does not help. BCCI needs to come out and clear things up here, because these kinds of reports don’t just harm its own ecosystem, but harm the reputation of its own partners,” say those following the developments.
TOI sent the BCCI media team an email asking President Sourav Ganguly to answer the following two questions: a) Has BCCI renewed its existing contract with Byjyu’s? And has the renewed contract been signed by both parties? b) Is BCCI in possession of a bank guarantee from Byju which far supersedes the “pending amount” as quoted by the media on Thursday and Friday.
There has been no response to the email yet and the story will be updated as soon as BCCI offers a comment. BCCI secretary Jay Shah was out of the country and unavailable for comment.
The “leak” that talks about the pending amount of Byju coincides with another “leak” that the Indian mobile payments and financial services company Payment wishes to terminate its agreement with BCCI as property rights sponsor and transfer it to Mastercard.
For the record, Mastercard has been trying for some time to register with BCCI and IPL as an official sponsor. It can be confirmed that two other official partners BCCI and IPL are also considering a release, but no formal talks have yet taken place.
“The transfer of rights is not a big problem. In 2019, Oppo wanted to release and so the jersey rights were transferred to Byju’s. In 2015, Pepsi did the same with IPL when they wanted to exit the cricket sponsorship space. But the harm here is putting the Paytm deal and the Byju deal in the same sentence and selectively leaking it to the media. BCCI members should be urged to investigate this leak, as it not only harms the interests of its partners, but also the cricket board’s own interests,” those following these developments add.

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Elaine R. Knight