Dream11 acquires official partner rights of BCCI

The Board of Control for Cricket in India (BCCI) announced that Sporta Technologies Pvt. Ltd. (Dream11), LafargeHolcim (ACC Cement and Ambuja Cement) and Hyundai Motor India Ltd. have acquired the official partners’ rights for its international and domestic matches for the period 1st September 2019 to 31st March 2023.

The rights were acquired following the conclusion of the Expression of Interest process.

“The consolidated winning bids were at a price of Rs 222.74 crore to be paid for the 2019-23 home season. The consolidated winning bid was Rs 2.59 crore, which is at 72 % incremental value in comparison to the previous per match value of Rs 1.5 crore,” the BCCI said in a statement.

It was earlier reported that online payments and e-commerce behemoth Paytm and Dream11 were in the fray for the title sponsorship of BCCI domestic and international matches.

However, Paytm ultimately acquired the title sponsorship rights for the period 2019-23 at a price of Rs. 326.80 crores (Rs. 3.8 crores per match).

Dream11 is already the exclusive fantasy gaming partner for IPL, ICC, ISL, Big Bash and other marquee domestic and international sporting events.

Earlier this month it was reported that South African technology conglomerate Naspers may acquire a stake worth $100 million in Dream11 at a valuation of $2.5 billion.

In April 2019, the Dream11 board changed its company name from Dream11 Fantasy Private Limited to Sporta Technologies Private Limited, in a bid to venture into other sporting activities and events. The change in name has been approved by the Registrar of Companies (ROC).