News of Byju's 'payment pending' with BCCI is incorrect, says the cricket Board; laments ‘deliberate leak’

BCCI’s official jersey sponsor Byju’s owes the cricket board a pending amount of Rs 86.21 crore. Exactly three years ago, in September 2019, Byju’s had replaced Oppo on the Team India jersey and that contract is now awaiting a renewal. Both BCCI and Byju’s have been in discussion to extend the contract and only a “formal signing of the agreement” is awaited.

Reacting to media reports that Byju’s owes BCCI money to the tune of Rs 86.21 crore, industry sources told TOI: “The money pending is for the number of matches after the contract expired and while the new contract is ready, it hasn’t been signed yet. So, the pending amount can only be released once the contract is signed”. Top sources in the BCCI too agreed that Byju’s has cleared all its past payments to the cricket board, as per the existing contract, and also admitted that the cricket board is in possession of a Bank Guarantee from Byju’s that is far exceeding 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 encash the Bank Guarantee. Why is it not doing that? Obviously because the previous contract is over and the new contract – while it has been agreed upon – hasn’t been signed yet. No matter how eager both parties are to renew the contract, how can payments be made without it being signed first?” say those in the know.