As part of the agreement, Byjus, an ed-tech giant, has agreed to provide free licences and educational resources for Messi’s foundation, know about the Messi deal cost and his fees
Lionel Messi has been appointed by Byju’s as its global brand ambassador for the company’s “Education for All” social project.
Byjus Lionel Messi Deal Cost Details And Money Paid To Him As He’s Named Global Brand Ambassador Amid Massive Layoffs By The Company
The company’s prepared statement on Friday read that this partnership with one of the world’s most well-known sportspersons is in tune with the rising global reach of Byju’s and its dedication to making education accessible, equitable, and cheap for all.
Byju’s to provide free education to the Messi foundation.
The Leo Messi Foundation, which Messi also manages, was established in 2007 with the belief that all children should have an equal chance to realise their potential. According to information obtained, this agreement includes obligations between Messi and Byju’s, under which the ed-tech company may provide free licences and educational resources for his foundation.
BYJU’s is estimated to spend about $5-7 million per year for this agreement with Messi.
With pre-tax gross earnings of $130 million, Lionel Messi will be among the highest-paid football players in 2022, according to Forbes.
It’s interesting to note that co-founder Byju Raveendran is well known for his passion for football, having played for hours at midnight with his coworkers. This comes after Raveendran sent a sincere apology to its staff for implementing layoffs a few days prior. After posting the largest loss ever for an Indian startup in FY21, the company implemented stringent cost optimization measures like layoffs. The loss increased to Rs 4,589 crore during FY21.
Byju’s has always been into its marketing and promotion
Byju’s continues to be aggressive in its marketing and promotion efforts. According to its regulatory filings, the corporation actually spent more than Rs 2,500 crore on marketing and promotion in FY21. This was before the business agreed to become the FIFA World Cup’s official sponsor. According to news estimates, Byju’s is investing roughly $40 million in sponsorship.
According to media sources, it just renewed its contract with the Board of Control for Cricket in India for $55 million, becoming the primary sponsor of the Indian cricket team in 2019. The ongoing Men’s T20 World Cup of the International Cricket Council is being sponsored in part by Byju’s.