BYJU’S, an Indian edtech company that has been on the Indian men’s cricket team jersey since 2019, is looking to exit the deal after March 2023 and will terminate its contract with the Board of Control for Cricket in India (BCCI).
According to an ET report, the current development indicates that BYJU’S is looking to rationalise its media spending. The BCCI has confirmed the development, according to an Insidesport report. “Yes, they have informed us that they wish to discontinue their jersey sponsorship. BYJU’S reported a 20X increase in losses to INR 4,588 Cr in FY21, owing to INR 2,251 Cr in advertising and promotional expenses. Critics have previously claimed that the funding crisis has only impacted BYJU’s employees, not its branding campaigns.