A new brand name will feature on Team India jerseys very soon. The current name Oppo will be replaced by Byju's on jerseys of Indian cricketers from September. Chinese mobile firm Oppo has decided to opt-out of the contract with the Indian cricket team and will be leaving the space for the Bengaluru based education firm’s app Byju's. Oppo had bought the jersey rights for Rs. 1,079 crore in March 2017 for a period of five years. However, the firm has decided to opt-out of the contract since they feel that the value at which it acquired the rights in 2017 is extremely high and unsustainable. India vs West Indies 2019: 5 Records & Stats You Need to Know Ahead of the IND vs WI T20I Series. 

Oppo will be visible on Team India jerseys only till the West Indies Tour 2019. Once South Africa’s tour of India starts in September, Byju's will take over Team India jerseys. A BCCI source informed The Times of India that Byju's will pay the same amount to BCCI so there will be no loss in the contact. The contract will end on March 31, 2022. India vs West Indies 2019: Sourav Ganguly Unhappy With Exclusion of Shubman Gill and Ajinkya Rahane in ODI Squad, Wants Selectors to Pick Same Players Across Formats. 

Under, Oppo’s winning bid in 2017, it used to pay Rs. 4.6 crore per bilateral match and Rs. 1.56 crore per ICC or Asia Cup match. The cost was comparatively higher than what previous sponsors Star India Pvt Ltd used to pay the BCCI. Star used to pay BCCI Rs. 1.92 crore per bilateral series and Rs. 61 lakh per ICC and Asia Cup match. Byju's, an educational app and online tutoring firm, is founded by Kerala-based entrepreneur Byju Ravindran. Byju’s parent company is Think & Learn Pvt Ltd. It is valued at Rs. 38,000 crore.

(The above story first appeared on LatestLY on Jul 25, 2019 09:07 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).