Edtech platform Byju’s is unlikely to renew its endorsement deal with actor Shah Rukh Khan when it ends in September. Byju’s has been cutting costs in an effort to raise funds amid a slowdown in the online education market. Shah Rukh Khan has been the face of Byju’s since 2017 when he signed an endorsement deal for an annual fee of close to Rs 4 crore. However, with the edtech platform facing financial troubles, Khan’s team is hesitant to continue the association. Byju’s has been facing controversy and legal issues in the past. In April this year, a consumer commission fined Byju’s and Shah Rukh Khan for false advertising and not meeting teaching standards. Khan has faced criticism on social media for his association with Byju’s. Byju’s has also paused its advertisements featuring Khan during a controversy involving his son, Aryan Khan. Byju’s has been struggling to raise funds and has cut thousands of jobs to reduce costs. The company’s key investors, including Peak XV Partners, Prosus, and Chan Zuckerberg Initiative, have resigned from its board. Byju’s has also experienced leadership changes with its auditor Deloitte quitting due to delays in financial statements. Byju Raveendran, the founder of Byju’s, recently reassured employees that the situation is not as bad as portrayed in the media. However, industry experts suggest that celebrities tend to distance themselves from brands facing controversy. Shah Rukh Khan endorses multiple brands including Hyundai, LG, and Reliance Jio. Byju’s has not released any new campaigns featuring Khan in recent months. In January this year, Byju’s announced footballer Lionel Messi as its global brand ambassador.