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Mastercard will be replacing Paytm as title sponsor for international cricket at home

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In the latest update, the mobile payments and the financial services company Paytm has expressed to withdraw itself to remain the BCCI’s official title sponsor till 2023 and in tandem has asked BCCI to transfer the rights to a third party which is none other than the “Mastercard”.

Now the full reason is unknown behind the request for the exit but one thing is for sure Mastercard after losing its revenue to the current UPI system will try to regain momentum after this sponsorship. Actually, Paytm had a timeline only till July to make such a request but as per the reports, the BCCI considered the request based on the long-term relationship with the two parties, a BCCI official said.

“Paytm has requested the BCCI for reassignment and the board is considering it,”

On the other hand, the jersey sponsor and the ed. tech giant, Byju’s have agreed to the extension of their partnership till the end of 2023 which will include the ICC 2023 world cup with a 10 percent increment. But reports have also come out that Byju owes BCCI a sum of 86.21 crores but which according to Byju’s spokesperson is an amount to be dispersed after the final contract is signed between the two entities. Look at what Byju’s spokesperson said,

 “We have extended the contract with the BCCI but it is not yet signed. After the contract signing is done, the payments will happen as per the contractual payment terms. So there are no dues pending from our side.”

For Byju’s coming up as BCCI’s jersey sponsor when the Chinese mobile manufacturer, OPPO, decided to withdraw itself in 2019 and also requested the BCCI to transfer the rights to the online ed. tech firm, Byju’s. Since then, Byju’s held the jersey rights and will be looking forward to the end of 2023 next year.

Now the reason behind the transfer of rights from one party to another seems ok but taking place so frequently between companies, attracts lots of eyeballs. Let’s wait and watch!!

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              "Articles" Copyright ©2022 by Playon99 News
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