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BCCI Officially Invites Bids For Title Sponsor After Dream 11's Exit
BCCI Officially Invites Bids For Title Sponsor After Dream 11's Exit, Imposes Restrictions On Money Gaming, Crypto and Alcohol Brands
The Indian cricket board is seeking a new title sponsor for the national team ahead of Asia Cup 2025 as the deal with Dream11 could not continue due to restrictions on real money gaming companies.
The Board of Control for Cricket in India (BCCI) on Tuesday officially invited bids for the Indian cricket team's title sponsorship rights after fantasy sports giants Dream11's exit ahead of Asia Cup 2025, which will be played from September 9 in the UAE.
The Indian cricket board is seeking a new title sponsor for the national team as the deal with Dream11 could not continue due to restrictions on real money gaming companies. The development came after the Indian Parliament on August 21 passed the "Promotion and Regulation of Online Gaming Bill, 2025," which has banned real-money gaming services on platforms like Dream11.
The representatives of Dream11 had earlier informed the BCCI that they won't be able to sponsor the India cricket team for the Asia Cup 2025.
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Notably, the process to onboard a new sponsor involves a tender process where bids are submitted, scrutinized and eventually a winner is declared after legal procedures.
The bid invited by BCCI on Tuesday, September mentioned that the bidder should not be engaged in online money gaming, betting or gambling services or similar services in India or anywhere in the world.
"Bidder, including any of its Group companies: (i) should not be engaged in online money gaming, betting or gambling services or similar services in India or anywhere in the world; (ii) should not provide any online money gaming, betting or gambling services or similar services to any Person in India; and (iii) should not have any investment or ownership interest in any Person engaged in betting or gambling services in India," the BCCI said a press release.
"To clarify, a bidder, including any of its Group companies, engaged in any activities/business that is prohibited under the Promotion and Regulation of Online Gaming Act, 2025 is not permitted to submit a bid," it added.
Meanwhile, tobacco, alcohol, and entities "likely to offend public morals - including, but not limited to, pornography" are also prohibited from applying.
The last date to purchase IEOI documents is September 12, while the deadline for submission of bid documents is set on September 16.
The BCCI said that the IEOI will be made available on receipt of payment of a non-refundable fee of Rs 5 lakh plus any applicable Goods and Services Tax. The board also mentioned that it reserves the right to cancel or amend the IEOI process at any stage "in any manner without providing any reason".
After Dream 11's exit, BCCI has no title sponsor before the Asia Cup 2025, which is scheduled to be played on September 9 in the UAE. The BCCI has invited bids for the sponsorship, but with time constraints, India cricket team might have to play without a lead sponsor on their jerseys during the Asia Cup 2025, which will be an unusual occurrence.
Dream11, which is one of the biggest fantasy gaming platforms in the country, acquired the rights to become the BCCI's lead sponsor in a three-year deal worth Rs 358 crore in July 2023. The fantasy sports platform took over from educational technology venture Byju's.
The agreement between Dream11 and BCCI included a per-match fee of Rs 3 crore for home games and Rs 1 crore for away games.
Source: ZeeNews
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