BCCI Apex Council Emergent Meeting: Byju's Future, Star Media Rights Payment On Agenda
Byju's wants to terminate its agreement with the BCCI but in the meeting held last month.
The BCCI Apex Council will decide on its association with jersey sponsor Byju's besides deliberating on Star's media rights payment in its emergent meeting on Monday.
The meeting will be held virtually.
Byju's wants to terminate its agreement with the BCCI but in the meeting held last month, the board had asked the edtech major to continue at least until March 2023.
The company had recently announced plans to lay off not more than 5% of its total strength of 50,000.
In June last year, Byju's had extended its jersey sponsorship agreement with the BCCI until November 2023 for an estimated $35 million.
The brand had replaced Oppo back in 2019. Byju's was also one of the sponsors of the 2022 FIFA World Cup in Qatar.
There is only one item on the meeting agenda and that reads "discussion on Byju's and STAR media rights payment". Star is the current holder of the media rights for Indian cricket's home season. The rights will come up for renewal after March.
Last year, the BCCI had sold the IPL media rights for the 2023-2027 cycle for a whopping Rs 48,390 crore.