Apollo Tyres has signed a deal with BCCI to sponsor the Indian Cricket team and has agreed to pay a whooping Rs. 4.5 crore per game amounting to 579.06 overall.
Apollo Tyres is the new sponsor for Indian Cricket Team
- After the dramatic exit of the previous sponsor of Indian Cricket team Dream 11, due to government policy that outlaws online money game platforms. BCCI had laid strict guidelines for the bidders for sponsoring the team. Apollo tyres is the company that fits right with the guidelines of BCCI, has agreed to pay Rs 4.5 crore per game.
- Dream 11 stepped down as the sponsor ahead of asia cup and BCCI struggled to find a new sponsor, mostly because of the strict rules they has opt for, the reluctance to make a deal with certain companies was primarily due to the sudden dismissal of online gaming platforms under the promotion and regulation of online gaming act and certainly they aim to avoid such situations in the future.
- BCCI Secretary Devajit Saikia had expressed the organization’s intention to avoid partnership with any such company that engages in selling and promoting of such injurious to health edibles and money relation games. "It is a process that takes a certain amount of time and needs to be done keeping legal modalities in mind" the Secretary said.
- "The BCCI fully understands one of our sponsorship partner's plight. It is not their fault and unlike other issues of payment default, there won't be any penalty levied on Dream11. This is a government rule and full compliance is required and in the current scenario, their business will be impacted" He said
- Companies like Sahara, Star India, oppo, Byju’s and dream11 sponsored the team previously, but most of them went down financially leading to break in the partnerships.
Read more from the Author: “India Coming to the table” says US Trade Advisor Peter Navarro