New Delhi, 1st July 2023: The Board of Control for Cricket in India (BCCI) announced on July 1 that fantasy sports powerhouse Dream11 will be Team India’s principal sponsor for the next three years, succeeding edtech behemoth Byju’s.
Following this, Dream11 will be seen on Team India jerseys beginning with the Test series against the West Indies, the team’s first assignment in the ICC World Test Championship 2023-25 cycle.
According to media sources, the corporation acquired these rights for Rs 358 crore, which is far less than what Byju’s spent.
Byju’s was paying Rs 5.5 crore for each bilateral match, however the value reduced to Rs 1.7 crore for an ICC game due to the logo’s placement. According to estimates, Byju’s agreed to pay a total of $55 million.
BCCI President Roger Binny said in a post, “From being BCCI’s official sponsor to now being the lead sponsor, the BCCI-Dream11 partnership has grown from strength to strength. It is a direct testament to the trust, value, potential and growth that Indian Cricket offers.”
He further said, “As we prepare to host the ICC World Cup later this year, enhancing fan experience is among our top priorities and I am confident that this partnership will help us elevate the fan engagement experience.”
It should be noted that Dream11 has been the official partner of the cricket event Indian Premier League (IPL) from 2019 and is also the title sponsor of IPL 2020. It was also an official partner of the Women’s Premier League’s inaugural season in 2023.
Dream Sports co-founder which is the parent company of Dream11, Harsh Jain said, “As a long-standing partner of BCCI and Team India, Dream11 is thrilled to take our partnership to the next level. At Dream11, we share our love for cricket with a billion Indian cricket fans, and it is a matter of pride and our privilege to become the lead sponsor for the National team.”
Last month, the BCCI accepted bids for lead sponsorship after Byju’s attempted to terminate its arrangement with the Indian cricket body. In 2019, the edtech behemoth replaced Chinese smartphone company Oppo as the major sponsor.
However, as a cost-cutting measure, it wanted to terminate this association in November 2022. The cricket body then requested that the relationship be extended until March 2023.
In its tender, BCCI barred some brand categories, including real money gambling companies, from participating in the process, however it made an exception for fantasy sports gaming companies.
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