The curse of team India's jersey; recurring financial challenges faced by main sponsors of Indian jerseys

[Major]

Over the last few years, India has been changing its main jersey sponsor quite alot, and interestingly, every sponsor they had, would end up facing financial troubles. Its as if the team India jersey is cursed, any company that sponsors team India will find itself in

Wills Kings:
India cricket team's main sponsor in the 90s that would eventually get banned from being allowed to sponsor any cricket related activity.

Source: https://m.rediff.com/sports/2001/feb/07tobac.htm

Sahara:
Throughout the 2000s we saw Sahara written on team India's jersey all the time. However, the owner of Sahara. Subrata Roy was jailed as the company was involved in taking money from its investors and not paying them returns. Thus, turning out to be a big scam involvement.

Source: https://www.outlookindia.com/nation...ck-their-money-with-interest-shah-news-274775

Star:
Star was the next sponsor of India, and they would get bought out by Walt Disney. However, Walt Disney wanted to sell its stake in Star

Source: https://www.thehindubusinessline.co...oring strategic,Disney might pursue, WSJ said.

Oppo:
Than we saw Oppo sponsoring team India, and eventually OPPO was accused of evading taxes in India.

Source: https://government.economictimes.in...mpany-wise list of,includes Rs 4,403 crore in

Byjus:
Soon after they sponsored team India, the company went into a crises where there were lay offs

Source: https://www.livemint.com/companies/...rmance-review-says-report-11692356966461.html

Dream 11:
They are the current sponsors of team India, however, the Indian govt has imposed high taxes on companies involved in fantasy sports and online gaming. With a 28% tax rate imposed.

Source: https://www.91mobiles.com/hub/govt-...ods and Services Tax,of both skill and chance.

Could it be that sponsoring team India leads to a curse for companies?

 

[MenInG]

Must be a good curse for a few months atleast!

 

[Titan24]

Interesting and surprising trend at the same time.

Sponsoring Indian team jersey means these companies were okay with huge amount of cash outflows for their marketing and maybe possible expansion/growth at quick pace, at times companies have the tendency to over expand/spend which leads to their downfall. Maybe these companies faced similar trends...

 

[Bewal Express]

Soon you will hear that the company's paid massively over the top for the TV rights and are struggling.

 

[Nikhil_cric]

Soon you will hear that the company's paid massively over the top for the TV rights and are struggling.

Is there any data to back that up?

 

[Bewal Express]

Is there any data to back that up?

No,anecdotal

 

[Major]

Interesting and surprising trend at the same time.

Sponsoring Indian team jersey means these companies were okay with huge amount of cash outflows for their marketing and maybe possible expansion/growth at quick pace, at times companies have the tendency to over expand/spend which leads to their downfall. Maybe these companies faced similar trends...

Mt guess would be that, sponsoring team at these high rates is not feasible as companies are not even surviving. Could be a bubble that will burst eventually

 

[FearlessRoar]

Insolvency tribunal NCLT has issued notice to Think & Learn Pvt Ltd, which provides online educational services under the brand name of Byju's, over a petition filed by the Board of Control for Cricket in India (BCCI). The BCCI has filed a petition claiming dues of Rs 158 crore as an operational creditor under section 9 of the Insolvency & Bankruptcy Code 2016.

Admitting BCCI's plea, a two-member Bengaluru-based bench of the National Company Law Tribunal (NCLT) issued notice to Think & Learn on November 28, 2023.

The NCLT order further said, "Two weeks is granted to the Respondent (Byju's) to file a reply and one week thereafter is granted to the Applicant (BCCI) to file rejoinder, if any, after duly serving the copy on the other side."

The tribunal has directed to list the matter on December 22, 2023, for the next hearing in this matter.

the proceedings, BCCI's counsel informed NCLT that a general notice was issued to Byju's through an e-mail dated January 6, 2023, with a default amount of Rs 158 crore, excluding TDS.

Byju's first came on board back in 2019 when mobile manufacturer Oppo transferred the sponsorship rights to the online tutorial firm.

NDTV

 

[FearlessRoar]

I think we will see a new sponsor logo on India's jersey soon.

 

[BouncerGuy]

Insolvency tribunal NCLT has issued notice to Think & Learn Pvt Ltd, which provides online educational services under the brand name of Byju's, over a petition filed by the Board of Control for Cricket in India (BCCI). The BCCI has filed a petition claiming dues of Rs 158 crore as an operational creditor under section 9 of the Insolvency & Bankruptcy Code 2016.

Admitting BCCI's plea, a two-member Bengaluru-based bench of the National Company Law Tribunal (NCLT) issued notice to Think & Learn on November 28, 2023.

The NCLT order further said, "Two weeks is granted to the Respondent (Byju's) to file a reply and one week thereafter is granted to the Applicant (BCCI) to file rejoinder, if any, after duly serving the copy on the other side."

The tribunal has directed to list the matter on December 22, 2023, for the next hearing in this matter.

the proceedings, BCCI's counsel informed NCLT that a general notice was issued to Byju's through an e-mail dated January 6, 2023, with a default amount of Rs 158 crore, excluding TDS.

Byju's first came on board back in 2019 when mobile manufacturer Oppo transferred the sponsorship rights to the online tutorial firm.

NDTV

A US court ruled in favor of India, allowing the Board of Control for Cricket in India (BCCI) to settle pending dues worth INR 158 crore (approximately $19 million) with BYJU’s.

The National Company Law Appellate Tribunal (NCLAT) had approved the settlement, but GLAS Trust Company, a US-based lender, opposed it. The US court dismissed GLAS’s opposition, stating that any objections should be raised in an Indian court.

The BCCI will continue its settlement with BYJU’s, which had unpaid dues from a sponsorship contract. Dream11 has taken over the title sponsorship rights from BYJU’s until mid-2026.