BCCI Looking To Extend Sponsors' Time Till October To Pay Remaining Dues - Reports
The Board of Control for Cricket in India (BCCI) might extend the final date to clear dues for the sponsors of Team India, reports in the Times of India stated.
Byju’s allegedly owes INR 86.21 crores to the apex board and the final date for clearing the same is expected to be in the first half of October. If it fails to do so, the bank guarantee will be encashed.
“As of 16.07.2022, Byju’s following payments have been overdue: 1) Rs. 22,22,76,000 (Net of TDS) March 2022 as of (previous contract term).”
“2) Invoice amounting to Rs. 106.49 crores from June – July 2022 (new term) is raised, out of which RS. 86.21 crores is due (as of 21 July 2022). Byju’s hasn’t furnished the new bank guarantee yet,” the document read as per TOI.
Further statements issued after BCCI’s apex council
Additionally, the title sponsor of India’s domestic and global tournaments, PayTm, has asked that its rights be transferred to a third party, Mastercard. The request is expected to go through as hoped.
“Given the COVID situation, during the last 2 years. Paytm’s many businesses have needed to make dynamic changes in their plans and marketing spends.”
“On 1.7.2022, Paytm sent an official request to BCCI for assigning their Indian home cricket title sponsorship rights to a global leader in its category, Mastercard,” the statement also read.
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The Board of Control for Cricket in India (BCCI)
