Byju’s Out, Dream11 In: New Lead Sponsor for Indian Cricket Team Announced
Written by Sanjay Kumar
News Highlights
- Dream11 replaces Byju’s as the new jersey sponsor of Team India in a ₹358 crore deal.
- After the sudden termination of Byju’s contract, the Board of Control for Cricket in India was looking for a new jersey sponsor.
- Certain brand categories prohibited from bidding for the jersey sponsorship, while the BCCI continues its search for a title partner.
Dream11 has taken over as the jersey Sponsor of Team India, replacing Byju’s in a deal worth ₹358 crores. The Board of Control for Cricket in India (BCCI) had recently announced that it was seeking a new jersey sponsor following the abrupt termination of its contract with the troubled edtech company.
Byju’s had been paying ₹5.07 crore per match for domestic matches featuring the Indian team and ₹1.56 crore per match for International Cricket Council (ICC) or Asian Cricket Council (ACC) tournaments as part of their $35 million deal. However, Dream11 declined to comment on the development.
In mid-June, the BCCI invited applications for the Indian team’s jersey rights, setting the base price at a 40% discount compared to the previous winning bid. The base price was set at INR 3 crore for bilateral matches featuring India and INR 1 crore for matches in ICC or ACC tournaments, which include prestigious events like the ICC World Cup and the Asia Cup.
The previous sponsor, Oppo, had been paying INR 4.61 crore per match. Similarly, in 2013, rates had decreased when Star India paid INR 1.92 crore per match for BCCI-organized games, compared to Sahara’s winning bid of INR 2.35 crore per match.
However, certain brand categories were excluded from the bidding process, resulting in limited participation. Brands associated with athleisure and sportswear, alcoholic products, betting companies, cryptocurrency entities, real-money gaming platforms (excluding fantasy sports gaming), tobacco brands, and offensive content like pornography were prohibited from bidding.
The exclusion of athleisure and sportswear was because the BCCI had already signed a ₹300 crore exclusive category rights deal with Adidas as its kit sponsor.
Recently, it was reported that the BCCI was in a rush to find a new jersey sponsor following the sudden departure of Byju’s. Additionally, the board is currently searching for a title partner after the expiration of its agreement with Mastercard.
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The post Byju’s Out, Dream11 In: New Lead Sponsor for Indian Cricket Team Announced appeared first on InnovativeZone.
