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Cricket (Sport)

BCCI Searches for New Sponsor After Dream11 Exits due to India's Real Money Gaming Ban

Strategic Insights

— 1 min read

The Board of Control for Cricket in India (BCCI) is currently seeking a new sponsor for the Indian cricket team following Dream11's decision to pull out as jersey sponsors due to the nationwide ban on real money gaming. According to BCCI secretary Devajit Saikia, the association with Dream11 has come to an end after the new legislation was enacted. The new law has put a blanket ban on online money games, forcing companies like Dream11 to shut down cash games and contests.

Key Takeaways:

  • The BCCI is currently searching for a new sponsor for the Indian cricket team after Dream11 pulled out due to the ban on real money gaming.
  • A telecom major, global car manufacturer, and fintech firm have reportedly expressed interest in filling the vacant spot.
  • The BCCI is deliberating on the next course of action and is working with a positive mindset to find a new sponsor before the T20 Asia Cup on September 9.
  • The Indian cricket team is slated to play around 43 matches across formats in the remainder of the contract period, with the T20 Asia Cup, the 2026 T20 World Cup, and bilateral home and away matches on the schedule.
  • The women's World Cup being played at home may prove to be a bonus for potential sponsors, offering high visibility and relatively lower spend over a short period.
  • If BCCI can strike a tripartite deal where Dream11 sublets the contract to a new party, no tenders need to be floated.
  • If BCCI finds a strong suitor, it may even try to finalise a longer agreement up to the 2027 ODI World Cup.

Statistics:

  • Dream11's revenue accounted for 95% of its revenue from real money gaming.
  • The BCCI currently has a Rs.358-crore three-year deal with Dream11, due to run till February-March 2024.
  • The Indian men's team is slated to play around 43 matches across formats in the remainder of the contract period.
  • The women's World Cup is expected to generate a bonus for potential sponsors, offering high visibility at a relatively lower spend over a short period.

Sources:

  • HT Digital Content Services with permission from Hindustan Times.

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