INDIAN cricket has signed Apollo Tyres as its new lead sponsor after fantasy sports platform Dream11 ended its contract following a government ban on online gambling.
The men's team travelled to the United Arab Emirates for the ongoing Asia Cup without a sponsor on their shirts after Dream11 exited the deal, which was worth about $44 million and was set to run until 2026.
The Board of Control for Cricket in India (BCCI) said the new contract with Apollo Tyres runs until March 2028. While the value was not disclosed, the board said it is higher than the previous deal.
"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.
BCCI Secretary Devajit Saikia said, "We are excited about this being Apollo's first major sponsorship in India cricket, which speaks volumes about the sport's unparalleled reach and influence. This is more than a commercial agreement; it's a partnership between two institutions that have earned the trust and respect of millions."
Apollo Tyres Vice-Chairman and Managing Director Neeraj Kanwar said, "Cricket's unmatched popularity in India and worldwide makes it an honour for us to become the national team lead sponsor of Team India."
The Apollo Tyres logo will appear on the jerseys of the Indian men's and women's teams across all formats.
Last month, the Indian parliament passed a law banning online gambling. The government said gambling platforms had caused financial distress, addiction and even suicide, and were linked to fraud, money laundering and terrorism financing. Fantasy sports apps such as Dream11 continue to operate, though for prizes and not cash.
(With inputs from agencies)
