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Byju's to put footballer Lionel Messi's deal on hold: Report
In 2022, Byju's inked a three-year agreement with Messi, appointing him as the global brand ambassador for its 'education for all' campaign.
Byju's, an edtech company, has reportedly paused the three-year agreement with footballer Lionel Messi as a global brand ambassador, just around a year after the deal was initially signed in November 2022. The details are sourced from executives engaged in the proceedings, as reported by The Economic Times.
Byju’s enlisted Messi as its global brand ambassador in 2022 for a three-year duration, aligning with its 'education for all' campaign under its social impact arm. Messi was brought on board for an approximate $5-7 million per year.
“Byju’s paid Messi for the first year; it is yet to be decided whether the deal will be terminated before full term, or whether Byju’s plans to revive the contract in due course. This is on account of the liquidity crisis and other matters of serious concern within the company,” an unnamed executive said.
When Byju's announced the collaboration with Messi, it encountered a wave of trolls by netizens on social media. This backlash stemmed from the fact that the announcement occurred merely a month after the company had disclosed the layoffs of nearly 2,500 employees.
