The Board of Control for Cricket in India (BCCI) has well and truly begun its search for a new title sponsor after the fantasy sports gaming platform Dream11 pulled out of its three-year deal following the government ban on online gambling.
Dream11 signed the contract in July 2023, and as a result, the platform became the lead sponsor of both men’s and women’s cricket teams. The Dream11 logo was sported on the front of Indian jerseys.
Last week, the Indian parliament passed the Promotion and Regulation of Online Gaming Bill. Once both the Lok Sabha and the Rajya Sabha passed it, the President signed it, making it an Act. The newly introduced Act criminalises the offering and financing of such games, with offenders facing up to five years in prison.
According to Bloomberg, Dream11 is the biggest fantasy gaming platform in India, valued at USD 8 billion. Dream11 is also the official fantasy partner of the Caribbean Premier League and the title sponsor of Smash, New Zealand’s premier domestic T20 competition.
Although Dream11 might have pulled out of its contract with the BCCI, the fantasy gaming platform will not have to pay any penalty to the Indian cricket board as the contract includes a clause saying that if the sponsor’s core business is impacted by any law brought by the government, then they “won’t have to pay anything to the BCCI.”
With the Asia Cup and Women’s World Cup around the corner, the BCCI is now looking to float a new tender.
