Byju's allegedly owes Rs 86 cr to BCCI, Paytm to exit as sponsor : PTI Report

Indian cricket team's jersey sponsor Byju's allegedly owes Rs 86.21 crore as dues to the BCCI while title sponsor Paytm has requested the board to transfer its rights to a third party.

Edtech company and the BCCI had agreed on the extension of their partnership until the end of the 2023 ODI World Cup in India at a 10 percent increment recently in the month of April.

The issue was discussed by the BCCI Apex Council on Thursday.

"As of today, Byju's owes dues of Rs 86.21 crore to the Board," a BCCI source told PTI after the meeting.

However, a Byju's spokesperson told PTI: "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."

Fintech company Paytm has requested the BCCI to assign their India Home Cricket title rights to Mastercard. The current agreement between Paytm and the BCCI runs from September 2019 to March 31, 2023.

The company had missed the July timeline to request for reassignment of the sponsorship. However, considering the "longstanding" relationship between the two parties, the BCCI will consider Paytm's request.

"Paytm has request the BCCI for reassignment and the board is considering it," the source added.

In August 2019, Paytm had extended its association as the title sponsor for international and domestic cricket matches in India by four years with a winning bid of Rs 3.80 crore per match.