Dream11, a leading Indian fantasy sports platform, is reportedly in discussions with the national cricket board to terminate its 3.58 billion rupee ($41 million) jersey sponsorship, as reported by the Economic Times. This decision aligns with the new government ban on real-money online games, including fantasy sports, under the Promotion and Regulation of Online Gaming Bill, which impacts the gaming industry significantly.
This law bans the advertising, promotion, and sponsorship of such platforms, rendering Dream11’s sponsorship of the Indian cricket team legally problematic, according to the report.
Dream11 had entered a three-year deal with the Board of Control for Cricket in India (BCCI) in 2023 to display its logo on the national team’s jerseys.
“These agreements are binding and cannot be terminated unilaterally. A mutual decision is required as the current law prohibits advertising of banned games,” a source mentioned.
Dream11’s valuation stands at $8 billion. The new legislation stipulates that those offering money games after its enactment could face up to three years in jail and fines.
BCCI secretary Devajit Saikia did not immediately respond to Reuters’ requests for confirmation regarding Dream11’s intent to end the sponsorship.
In a statement to The Times of India, Saikia emphasized that the BCCI will adhere to the laws of the country.
“The BCCI will comply with all national laws. That’s a firm stance,” he stated.
This situation arises just before the Asia Cup, starting September 9, giving the BCCI limited time to find a new sponsor.
