Dream11 sponsorship withdrawal, BCCI jersey rights auction, Online Gaming Bill impact on sports sponsorship
BIG BREAKING Dream11 backs out as Team India’s Title Sponsor after passage of Online Gaming Bill in Parliament.
BCCI is now expected to invite new bids for the jersey sponsorship rights ahead of Asia Cup.
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Dream11 is not willing to continue its deal.
BCCI secretary Devajit… pic.twitter.com/jjxhhyl0RG
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BIG BREAKING Dream11 backs out as Team India’s Title Sponsor after passage of Online Gaming Bill in Parliament
In a significant shift for Indian cricket, Dream11 has announced that it will no longer serve as Team India’s title sponsor. This decision comes immediately after the passage of the Online Gaming Bill in Parliament, which has raised questions about the future of fantasy sports in the country. The Board of Control for Cricket in India (BCCI) is now gearing up to invite new bids for the jersey sponsorship rights ahead of the highly anticipated Asia Cup.
Dream11 is a leading player in the fantasy sports industry and has had a long-standing relationship with Indian cricket. However, the new regulatory landscape appears to have influenced their decision. With the Online Gaming Bill in place, Dream11 seems hesitant to continue its association, fearing potential implications for its business model.
The BCCI Secretary, Devajit, has indicated that the board will be actively seeking new sponsors to fill the gap left by Dream11. This presents a unique opportunity for other brands looking to gain visibility in the fast-paced world of Indian cricket. The Asia Cup is just around the corner, and securing a title sponsor will be crucial for the BCCI to maximize its commercial potential during this prestigious tournament.
As the cricketing community watches closely, it will be interesting to see which brands come forward to bid for the jersey sponsorship rights. Companies that can navigate the new gaming regulations while aligning with the spirit of the sport may find themselves in a lucrative partnership with the BCCI.
For more details on this developing story, check out the full article on Times Algebra.