MUMBAI: Come September, there will be a new brand name on Team India jerseys. Chinese mobile-maker Oppo, which had made a winning bid of about Rs 1,079 crore for the jersey rights in March 2017 for a period of five years, will make way for Byju’s, the Bangalore-based educational technology and online tutoring firm. Sources in the know told TOI that Oppo has decided to exit the space and reallocate the rights to Byju’s because it now finds the value at which it acquired the rights in 2017 to be “extremely high” and “unsustainable”. The development took place around two weeks ago and Oppo will be seen on the Team India jersey only till the end of the forthcoming West Indies series. Once South Africa’s tour of India in September commences, Byju’s will take over the jersey. According to sources, “work is already in progress” on that front. BCCI will continue to receive the same amount from Byju’s and technically will be at no loss for the entire duration of the deal, which runs up to March 31, 2022, said a BCCI source. “Basically, what Oppo has done is cut its losses. They’ve reassigned the rights to Byju’s. They will… Read full this story
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