Dream11 Ropes In as BCCI’s New Sponsor for India Cricket Team
After a considerable delay and a drop in the base price, the Board of Control for Cricket in India (BCCI) has signed up Dream11 as the new sponsor for the Indian Cricket Team. The fantasy gaming platform has taken the place of Byju’s, which unexpectedly ended its agreement in March. If all goes as planned, Rohit Sharma and his fellow players will be wearing the Dream11 logo on their jerseys during the India-West Indies series.
BCCI Lowers Base Price for India Cricket Team Sponsor
There were doubts as to whether BCCI would manage to close a deal before the West Indies tour; however, according to News18, the Indian board has officially sealed the agreement. In response to industry pressure, the BCCI had to reduce the base price for the India Cricket Team sponsor to Rs 350 crore. Previously, Byju’s had paid an amount of Rs 287 crore for the 2018 tenure and further extended the deal to 2023, paying roughly Rs 450 crore or $55 million. Under the terms of the agreement, Byju’s was paying Rs 5.5 crore for every year of the contract.
Conclusion
The BCCI has successfully secured a new sponsor for the Indian Cricket Team in Dream11, after a period of uncertainty and a reduction in the base price. Byju’s had previously been the sponsor, paying Rs 287 crore for the 2018 tenure and then extending the deal to 2023 for Rs 450 crore or $55 million. The Dream11 logo will now be featured on the front and sleeves of the IND vs WI series jerseys.