Cricket

‘Panauti hatao, Oppo Laut lao’ - Fans react as reports of Byju's ending team India Jersey Sponsorship deal circulates

Here is how fans have reacted on Twitter to the reports of Byju's ending team India jersey sponsorship deal

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Daniel S
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Team India

Team India (Image Source: Twitter)

Team India are currently busy playing the two-match Test series in Bangladesh. After the semi-final exit from the 20-20 World Cup 2022, they went to New Zealand to play an ODI and T20I series. Then, they played an ODI series in Bangladesh. Speaking of results, the Men in Blue won the T20I series against the Kiwis while losing the ODI series against the Kiwis and Bangladesh respectively.

However, on 17 December, some reports got circulated that the current company is looking to end the jersey sponsorship deal. According to the reports of the Economic Times, Byju's is most likely to end the team India Jersey Sponsorship deal. Speaking of the deal, this company had surprisingly extended its deal with the Indian Cricket Board until 2023-end for $55 million. Now this company is looking to make an exit by March 2023.

Fans came in support of Oppo after the reports regarding Byju’s ending team India jersey sponsorship deal came out

While talking to InsideSport, a top official of the Indian Cricket Board said: “Yes, they have written to us they want to exit Jersey Sponsorship. The matter will be discussed at Apex Council Meeting. They need to comply with all contractual obligations and exit can be taken.” A source, close to Economic Times, said: “Byju’s wants to walk out of the sponsorship deal with the Indian Cricket Board since it is optimizing its media spends in India.” Byju’s recorded a 17-fold jump in losses at ₹4,588 crores in the financial year of 2021. Revenue was up 4% to ₹2280 crore. 

The company’s advertising and promotional expenses jumped 150% to ₹2,251 crores from ₹899 crores. In June and October this year, Byju’s laid off over 2,500 employees from Toppr, WhiteHat Jr, and other functions within Byju’s. In October, tech startup Byju’s officially announced the layoff of 5 percent of its 50,000 employees across departments. These reasons might have influenced them to take such a decision. However, fans have come up and said that team India should go back to their old sponsorship of Oppo. Their’s five years rights period started on 1st April 2017 and continued until 31st March 2022, during which India played 14 home series and 20 overseas series. That also included the Champions Trophy 2017, 50-over Cricket World Cup 2019, and the 20-20 World Cup 2021.

Here is how fans have reacted to the reports of Byju's ending team India's jersey sponsorship deal:

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