Indian Cricket: Star India asks for discount, while Byju’s wants BCCI to cash-in bank guarantee

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BCCI
officials
were
in
discussion
for
more
than
an
hour
virtually
to
find
a
solution
to
the
demands
and
the
subjects
were
the
focal
matter
of
their
meeting
on
Monday.

Star
India
wants
a
discount:

Star
India,
the
sole
broadcaster
of
BCCI
has
asked
for
a
Rs
130
crore
discount
from
the
apex
body
of
Indian
cricket
for
the
current
deal.
Star
got
the
rights
to
broadcast
India’s
international
and
domestic
matches
for
the
2018-2023
period
and
paid
Rs
6138.1
crore
to
BCCI
for
the
deal.

And
it
ha
to
be
seen
how
BCCI
reacts
to
their
demands
given
the
current
cycle
ends
in
March.
BCCI
is
already
looking
to
sell
the
media
rights
for
the
next
five
years
and
it
has
to
be
seen
if
the
development
affects
any
future
deal.

Byju’s
want
BCCI
to
encash
Bank
Guarantee:

India’s
shirt
sponsors
Byju’s
told
BCCI
last
November
that
they
want
to
exit
as
the
jersey
sponsor
of
the
Indian
team.
BCCI
asked
Byju’s
to
continue
till
March
2023.
The
educational
company
made
the
deal
with
BCCI
last
June
for
an
estimated
USD
35
million,
which
was
set
to
run
till
November
2023.

The
deal,
which
is
worth
Rs
300
crore,
will
be
paid
by
Byju’s
in
separate
transactions.
Byju’s
wants
BCCI
to
encash
Rs
140
crore
bank
guarantee
and
the
remaining
Rs
160
crore
will
be
paid
in
instalments.

The
company
is
going
through
losses
and
is
set
to
lay
off
around
2500
of
its
50,000
employees
by
March
to
relief
their
stringent
financial
conditions.


“Only
Byju’s
and
Star
India
issues
were
discussed
in
the
meeting
but
that
also
took
well
over
an
hour.
It
was
a
serious
matter
involving
millions
of
dollars
so
naturally,
it
took
time,”

a
BCCI
source
said
to
the
news
agency

PTI.

The
official
also
confirmed
that
although
the
discussion
were
thorough,
BCCI
is
yet
to
come
to
a
conclusion
and
take
a
final
call
regarding
the
matters.

#Indian #Cricket #Star #India #asks #discount #Byjus #BCCI #cashin #bank #guarantee

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