Dream 11 to replace BYJU'S as Indian team's principal jersey sponsor
BYJU'S had quit after the end of the last financial cycle, and BCCI had invited closed bids for its new sponsor and Dream11 was one of the prominent names to have submitted its bid.
Fantasy gaming platform is all set to replace edtech major as the principal jersey sponsor of the Indian cricket team for an undisclosed amount, which is expected to be lesser than the previous deal.
BYJU'S had quit after the end of the last financial cycle, and BCCI had invited closed bids for its new sponsor and Dream11 was one of the prominent names to have submitted its bid.
Virat Kohli, former captain of the Indian national cricket team
"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.
When people associated with Dream11 were contacted, they cited that certain protocols are in place before they can make a formal announcement of the deal.
The Real Money Gaming (RMG) like Rummy and Poker were among the companies prohibited from submitting bids.
In case of principal jersey sponsors, the money given for every bilateral fixture where the sponsors name is in the middle of the shirt is three times more compared to what it pays for an ICC fixture where the centre of the jersey carries the country name and sponsors logo doesn't get a vantage positioning.
Edited by Megha Reddy