It came as a surprise to many when the news of Oppo shying away from being the Team India sponsor broke out. It was mainly because the Chinese mobile manufacturer had signed a contract with the BCCI for five years. What prompted them to back out of the agreement in the middle? Since BCCI is seen as a profitable unit, and the richest cricket body in the world, Oppo’s exit from a deal raised eyebrows.
Oppo signed with BCCI for an amount of 1079.29 crores which included 14 home series, 20 overseas series, apart from ICC Champions Trophy, ICC Cricket World Cup, and the World T20.
Oppo pulled out of the deal saying that it is not viable for them. The sponsorship cost far outweighs their return, says the Chinese mobile giant. But according to IDC (Int’l Data Corporation), Oppo enjoyed a 7.6 percent market share in the Indian smartphone domain in the first quarter of 2019.
Now, as Oppo has decided to back out, Bengaluru-based learning app Byju’s jumps on the bandwagon. The Indian unicorn Byju’s is a major player in the startup ecosystem.
BCCI to gain
If people are thinking that BCCI is at a loss after Oppo’s exit, it is the other way round. The cricket body will laugh its way to the bank with a 10 percent gain from this transition. The new sponsor will continue from where the old party had left. On top of it, both the parties will have to cough up the 10 percent between them and serve a notice period of six months.