<p>MumbaiI/New Delhi: Indian fantasy sports platform Dream11 has initiated talks with the country's cricket board to exit its 3.58 billion rupee ($41 million) jersey sponsorship deal, the <em>Economic Times</em> reported on Sunday, citing people familiar with the matter.</p><p>The move followed the central government ban on real-money online games, including fantasy sports, under the newly enacted Promotion and Regulation of Online Gaming Bill which threatens the survival of the popular gaming sector.</p><p>The law prohibits advertising, promotion and sponsorship of such platforms, making Dream11's continued association with the Indian cricket team legally untenable, the report said.</p><p>Dream11 signed a three-year agreement with the Board of Control for Cricket in India (BCCI) in 2023 to feature its logo on the national team's jerseys.</p><p>"These are watertight agreements and cannot be exited unilaterally. It will have to be a mutual decision since the law of the land doesn't permit advertising of banned games," one source said.</p>.Not concerned about Ganguly's personal endorsement: Harsh Jain of Dream11.<p>Dream11 commands a valuation of $8 billion. The new bill states that anyone who offers money games after the law comes into force could face a jail term of up to three years and a fine.</p><p>BCCI secretary Devajit Saikia did not immediately respond to a Reuters call and messages seeking confirmation of whether Dream11 has approached the board about ending their jersey sponsorship deal.</p><p>Saikia told The Times of India newspaper on Thursday that the BCCI will not do anything that is not permitted by the government or by any law of the country.</p><p>"The BCCI will not violate any of the laws enforced in the country. That's very clear," he was quoted as saying.</p><p>The development comes ahead of the Asia Cup, which begins on September 9, leaving the BCCI with limited time to secure a new sponsor. ($1 = 87.3260 Indian rupees) </p>
<p>MumbaiI/New Delhi: Indian fantasy sports platform Dream11 has initiated talks with the country's cricket board to exit its 3.58 billion rupee ($41 million) jersey sponsorship deal, the <em>Economic Times</em> reported on Sunday, citing people familiar with the matter.</p><p>The move followed the central government ban on real-money online games, including fantasy sports, under the newly enacted Promotion and Regulation of Online Gaming Bill which threatens the survival of the popular gaming sector.</p><p>The law prohibits advertising, promotion and sponsorship of such platforms, making Dream11's continued association with the Indian cricket team legally untenable, the report said.</p><p>Dream11 signed a three-year agreement with the Board of Control for Cricket in India (BCCI) in 2023 to feature its logo on the national team's jerseys.</p><p>"These are watertight agreements and cannot be exited unilaterally. It will have to be a mutual decision since the law of the land doesn't permit advertising of banned games," one source said.</p>.Not concerned about Ganguly's personal endorsement: Harsh Jain of Dream11.<p>Dream11 commands a valuation of $8 billion. The new bill states that anyone who offers money games after the law comes into force could face a jail term of up to three years and a fine.</p><p>BCCI secretary Devajit Saikia did not immediately respond to a Reuters call and messages seeking confirmation of whether Dream11 has approached the board about ending their jersey sponsorship deal.</p><p>Saikia told The Times of India newspaper on Thursday that the BCCI will not do anything that is not permitted by the government or by any law of the country.</p><p>"The BCCI will not violate any of the laws enforced in the country. That's very clear," he was quoted as saying.</p><p>The development comes ahead of the Asia Cup, which begins on September 9, leaving the BCCI with limited time to secure a new sponsor. ($1 = 87.3260 Indian rupees) </p>