NEW DELHI: Indian cricket on Tuesday announced Apollo Tyres as its multimillion-dollar main sponsor after fantasy sports gaming platform Dream11 pulled out following a ban on online gambling.
The men’s team travelled to the United Arab Emirates for the ongoing Asia Cup without a sponsor on their shirt after Dream11 ended a deal worth $43.6 million.
The Board of Control for Cricket in India (BCCI) did not reveal the value of the new contract, but said it is higher than the previous amount.
“The new partnership, secured after a rigorous bidding process, represents a substantial increase in sponsorship value, signifying the immense and growing commercial appeal of Indian cricket,” the BCCI said in a statement.
India cricket ends $43.6mn sponsorship after online gambling ban: report
The deal is until March 2028 with the Apollo Tyres logo printed on the jerseys of the Indian men’s and women’s players.
The Indian parliament in August passed a sweeping law banning online gambling.
Fantasy sports apps such as Dream11 still operate, although for prizes and not cash.
The government said the rapid spread of gambling platforms had caused widespread financial distress, addiction and even suicide.
It also said it was linked to fraud, money laundering and terrorism financing.
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