Shock Sponsor Exit: Dream11 Withdraws as Team India’s Lead Jersey Sponsor Ahead of Asia Cup

Team India faces uncertainty ahead of the Asia Cup, scheduled to start on September 9, as fantasy sports giant Dream11 has decided to withdraw as the lead jersey sponsor. The platform had signed a significant three-year deal worth ₹358 crore just in July 2023, but new legal restrictions on certain forms of online gaming in India have forced them to reconsider their involvement.

The Asia Cup is an important tournament, showcasing competition against leading Asian cricket nations. The Dream11 deal was among the largest cricket sponsorship agreements in recent times, but now, with no title jersey sponsor, the Indian cricket board is urgently looking for alternative sponsors.

Impact of Legal Changes on Dream11 and Sponsorship

The newly introduced law regulating online gaming platforms has created major disruptions in the fantasy sports industry. Dream11’s exit is a direct result of these regulations, affecting not only Team India’s financial backing but also the broader sports marketing ecosystem in India.

According to sources within the board, Dream11 has officially communicated its decision, prompting the board to activate contingency plans for securing a new sponsor before the Asia Cup begins in the UAE.

Reactions and Future Implications

The Team India captain acknowledged the situation with understanding, affirming that the team’s focus remains on performing well on the field. Fans have reacted with disappointment on social media following the unexpected withdrawal.

This incident highlights the challenges sports organizations face in adapting to evolving regulatory environments and raises concerns about the future of fantasy sports sponsorships in cricket and other sports across India.

Despite these off-field challenges, the Asia Cup will go ahead as planned, with Team India aiming for a strong performance. The manner in which the team and the cricket board handle this setback will be under close scrutiny by fans and stakeholders.

Stay tuned for more updates only on Space Sports.

About The Author

Taylor

See author's posts