Following the conclusion of the last financial cycle, BYJU's decided not to continue as the jersey sponsor, prompting BCCI to invite closed bids.
Dream11, the popular fantasy gaming platform, is poised to take over as the principal jersey sponsor of the Indian cricket team, replacing Ed-Tech major BYJU's. The exact value of the new deal has not been disclosed, but it is anticipated to be lower than the previous agreement. Following the conclusion of the last financial cycle, BYJU's decided not to continue as the jersey sponsor, prompting the Board of Control for Cricket in India (BCCI) to invite closed bids for the sponsorship position. Dream11 emerged as one of the prominent contenders by submitting its bid.
"Yes, Dream11 will be the new jersey sponsor of the Indian team. You can expect an announcement in few days' time," a BCCI source tracking the development told PTI on the condition of anonymity.
Upon reaching out to individuals associated with Dream11, they explained that certain protocols need to be followed before making an official announcement regarding the deal. It is worth noting that Real Money Gaming (RMG) companies, such as those offering Rummy and Poker, were prohibited from participating in the bidding process.
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In the case of principal jersey sponsors, the monetary compensation for bilateral fixtures, where the sponsor's name appears in the middle of the shirt, is three times higher than that for ICC fixtures, where the center of the jersey displays the country name and the sponsor's logo does not receive prominent positioning.