First Indian Sponsor of FIFA World Cup 2022 becomes BYJU’S
- ByStartupStory | March 24, 2022
BYJU’S, an Edtech giant, announced that they are now the official sponsors of the FIFA World Cup to be held in 2022 in Qatar. BYJU’s has become the first Indian company to sponsor one of the biggest sporting tournaments in the world, with this sponsorship.
BYJU’S founding CEO Byju Raveendran said that it is a matter of pride for them to represent India on such a prestigious global stage and champion the integration of education and sport.
BYJU’S is no stranger to sporting sponsorships, and since 2019 it has been the shirt sponsor of the Indian national cricket team.
They were paying Rs 4.61 crore per bilateral match and Rs 1.51 crore per match in an ICC event, when they initially took over from Oppo as the shirt sponsors. They agreed to stay on as sponsors until the 2023 ODI World Cup, earlier this year, agreeing to a 10 percent bump on the fees they were already paying.
Behind the new sponsorship deal with the FIFA World Cup of men’s football, details on the finances have not yet been disclosed. Before the 2018, the four-year cycle tournament was estimated to have earned FIFA $1.45 billion, lower than the $1.62 billion in sponsorships before the 2014 competition that was closed in the four-year cycle.
FIFA’s decision to award the 2018 World Cup to Russia, a move that raised many eyebrows, was largely because of this decrease in revenue. To increase their sponsorship revenue amidst the slowdown due to the pandemic and hosting the World Cup in Qatar — another contested choice has now been aimed by the international governing body of association football.
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