Dream11, a well-known fantasy game website, was recently announced as Team India’s new jersey sponsor, which will be a huge step for the cricket industry. According to a recent announcement from the BCCI, the selection of the team’s shirt sponsor has begun.
Dream11 has been able to successfully replace its previous sponsor, Byjus, with a four-year agreement with BCCI. An optional arrangement with BCCI existed between Byjus and BCCI until November 2023. In March, they made the decision to end the contract, leaving no sponsor for India’s cricket uniform.
Even when India played in the World Test Championship final versus Australia in England previously this month, it was clear that there was no sponsor available.
For each game during the bilateral series, the BCCI received around Rs 5.50 crore under the prior sponsorship agreement. However, due to how the logo was placed on the jersey during games at ICC competitions, the total amount dropped to Rs 1.70 crore.
Dream11 spent 358 crores to secure Indian Jersey Sponsorship Rights
It is believed that Dream11’s commitment to the cricket board may be less than what Byjus provided with the new sponsorship agreement. Nevertheless, Dream11 spent a stunning 358 crore Indian rupees to secure sponsorship rights.
The BCCI released a statement on June 14 detailing the categories of prohibited brand names that were allowed to bid in order to ensure a fair bidding process. Industry insiders have observed a lack of significant interest from potential sponsors despite the BCCI’s reduced base price.
However, Dream11 has successfully seized the chance to associate its brand with the renowned Indian cricket team due to its well-established reputation as a fantasy game platform.
The BCCI and Dream11 had previously collaborated together in 2020, at which time the company acted as the IPL’s headline sponsor. Dream11 has already teamed up with some of India’s most sought-after cricket players. These partnerships helped in the company’s successful marketing and promotion.
Through its partnership with one of the most popular cricket teams in the world, Dream11 receives significant awareness and exposure while the BCCI receives a new sponsor for the national squad.