New TOI report clarifies confusion between Byju's and BCCI

On Friday, an industry insider notified the media that BCCI’s official jersey sponsor Byju’s owes the cricket board 86.2 crore rupees.

According to a TOI report, industry sources have clarified that the money pending is for the number of matches after the contract expired and that the new contract hasn’t been signed yet. “The pending amount can only be released once the contract is signed,” said the source in the report.

Sources at BCCI also corroborated this fact to TOI and confirmed that Byju’s has cleared all its past payments to the board. The report mentions that according to an existing contract.

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.