Edtech giant Byju’s three-year deal with footballer Lionel Messi as a global brand ambassador has reportedly been put on hold, nearly a year after the initial signing in November 2022. The edtech company had enlisted Messi for a three-year duration as part of an ‘Education For All’ campaign. The agreement, which involved an estimated annual payment of $5-7 million, is currently facing a pause, though specific reasons for the delay have not been disclosed.
In light of severe financial constraints, Byju’s has chosen to suspend the deal with the football great, Lionel Messi, and is currently in the process of considering whether to terminate the contract prematurely or explore potential avenues for revival, as suggested by a report. It’s worth noting that Byju’s has fulfilled its financial obligations for the initial year of the deal by making payments to Messi. The Economic Times was the first to report on this recent development in the Byju’s-Messi partnership.
“Bjyu’s paid Messi for the first year; it is yet to be decided whether the deal will be terminated before full term, or whether Byju’s plans to revive the contract in due course. This is on account of the liquidity crisis and other matters of serious concern within the company,” one of the executives said as per Economic Times.
Messi’s Role in ‘Education For All’ Campaign
The company has not issued an official statement regarding this development. In November 2022, Byju’s had unveiled Lionel Messi as the inaugural global brand ambassador for its social impact initiative, ‘Education For All’. Messi, a player for Paris Saint-Germain in the French Ligue 1 and the captain of the Argentinian national team, was expected to champion the cause of inclusive education throughout his association with Byju’s. Earlier, Byju’s also became the official sponsor of the FIFA World Cup 2022 held in Qatar.
On January 9, 2023, Messi had written in one of his posts on Instagram, “@byjus_app and their world-changing initiative #EducationForAll are helping children from underserved communities with access to world-class educational resources. I believe that this simple initiative has the power to change the world. One student at a time.” (translated into English by Instagram)