Mumbai: Dream11 has pulled out of its jersey sponsorship deal with the Indian cricket team. The Board of Control for Cricket in India (BCCI) is now searching for a new sponsor.
“Our association with Dream11 is over after the new legislation has come into force,” BCCI secretary Devajit Saikia told HT, referring to the new legislation passed by the parliament last week. “For the next course of action, we are deliberating on what the alternatives should be.”
Asked whether BCCI is confident of finding a new sponsor in time for the T20 Asia Cup starting in the UAE on September 9, he said, “We are working with a positive mindset.”
Last Friday, the Promotion and Regulation of Online Gaming Bill, 2025 received the president’s assent. The government clampdown on Real Money Gaming (RMG) has forced Dream11 to shut down its cash games and contests. Dream11 being the primary revenue stream for parent company Dream Sports, experts had predicted that it would no longer make sense for the gaming firm to continue to spend heavily on promotional, advertising and sponsorship expenditure.
In July 2023, ahead of the 2023-25 World Test Championship cycle, Dream11 had signed up to become BCCI’s lead sponsor by shelling out Rs. 358 crore. Previously, Byjus, the Ed Tech firm could also not serve the duration of the contract after running into financial trouble.
{{/usCountry}}In July 2023, ahead of the 2023-25 World Test Championship cycle, Dream11 had signed up to become BCCI’s lead sponsor by shelling out Rs. 358 crore. Previously, Byjus, the Ed Tech firm could also not serve the duration of the contract after running into financial trouble.
{{/usCountry}}Officials in the Indian cricket board insist that they continue to engage with companies to find new sponsors, but will go ahead only if the brand aligns with the image of Indian cricket.
The flourishing fantasy gaming industry has been hit by the new government legislation that has forced most of them to shut shop or to shift to new businesses. BCCI also has a Rs.625 crore IPL deal with My11Circle. “We still have time for the next IPL. We will cross the bridge when we get there. Our immediate priority is the Asia Cup,” Saikia said.