BCCI looks for new title sponsor for Indian cricket team after Dream11’s departure

The Board of Control for Cricket in India (BCCI) has started the process to find a replacement for fantasy sports company Dream11, the title sponsor of the Indian cricket team, but it is unlikely to be finalised before next month's Asia Cup.

Dream11 will not continue as the Indian cricket team's title sponsor from the men's Asia Cup onwards. This follows the government's ban on real money gaming under the recently passed Promotion and Regulation of Online Gaming Act.

BCCI secretary Devajit Saikia also confirmed that the deal with Dream11 has ended. He said the BCCI is working to find a new title sponsor for various national teams.

Saikia told PTI, "With government regulations in place, the BCCI cannot continue its sponsorship relationship with Dream11 or any similar gaming company. Under the new restrictions, there is no scope and we are facing a roadblock with Dream11. So we cannot continue with them and are trying to find alternatives. The process is ongoing. The vacant sponsor position is something we are trying to fill. Nothing has been completed yet. Once something happens, we will inform through a media advisory."

A top BCCI official said Dream 11 would not be penalised for this, unlike other payment issues. “This is a government rule and full compliance is required. Their business will be impacted," the official said, adding that BCCI’s profits would be impacted in the short term. With only 15 days left for India's opening Asia Cup match in the UAE, finding a new sponsor will be difficult, the official said.

The official explained that the process of onboarding a new sponsor involves bids to become the title sponsor. Once the bids come in, they would be scanned and scrutinised, before the winner is finally declared. “This process takes time and must follow legal procedures,” said the official as per the report.

Apart from am11's exit, My11Circle might also find it difficult to continue as the fantasy sports partner of the Indian Premier League (IPL). It had pledged Rs 625 crore for five years. 

The official said that the BCCI is monitoring the situation, and even if My11Circle pulls out of IPL the cricket board has sufficient time as the league starts in mid-March next year.

Dream11’s departure comes amid the ban on real money gaming that sent a shockwave across the fantasy gaming ecosystem. The act states that no person shall offer, aid, abet, induce, or engage in offering online money gaming services, nor advertise in a way that promotes playing any online money game. The legislation also provides for a financial penalty of up to Rs 1 crore or a jail term of three years in case of violation.

Dream11 had won the tender for Indian national teams in 2023 for three years at Rs 358 crore. They are exiting with almost a year left on the contract.