NEW DELHI, July 25: The Indian cricketers will wear a new brand name on their official jerseys from September with Chinese mobile manufacturer Oppo transferring the sponsorship rights to online tutorial firm Byju�s, the BCCI announced on Thursday.
�BYJU�S will be taking over all obligations of the current team sponsor OPPO mobiles India private limited,� the BCCI said in a statement.
�The BCCI is pleased to welcome India�s leading education and learning app BYJU�S as the official Team India sponsor from 5th September, 2019 until 31st March, 2022,� it added.
The deal between the BCCI and Oppo, which was inked in 2017 for a five-year period, was reportedly worth Rs 1079 crore.
Virat Kohli and his team-mates will wear the jersey with the new brand name from the upcoming home season, beginning with a series against South Africa from September 15.
A source said that the transfer is a �tripartite agreement� between Oppo, Bengaluru-based Byju�s and the BCCI.
In March 2017, Oppo won the Indian team jersey rights for a five-year period after outbidding Vivo mobiles� Rs 768 crore bid.
As per the deal, Oppo was paying BCCI Rs 4.61 crore per bilateral match and Rs 1.56 crore for an ICC event game.
�Any transfer of sponsorship requires the interested parties to inform BCCI about negotiations. Accordingly Byju�s and Oppo have informed about their discussion. The BCCI doesn�t stand to lose any money as the new company will pay exactly what the old one is paying.
�The BCCI has a clause which allows transfer of sponsorship. Since there is a secrecy clause, the financial dealings can�t be spoken about,� said a BCCI official.
Another official said the transfer could, in fact, translate into more money for the board.
�The BCCI stands to gain if there is a transfer of sponsorship. The two parties in question will have to pay an extra 10 percent (between them) and also give a notice of six months,� the official said.
In its statement, the BCCI did not disclose the financial aspect of the deal. � PTI
