BCCI Sponsorship Ill-Fated? Not Just Dream11, A Look At Others Who Ended Up In Trouble

Being the official team sponsor of the Indian Cricket Team is an association companies far and wide see bringing gravity to the brand. Millions of fans watch cricketing legends wear the sponsor's logo on their chest through every run and every wicket. As far as advertising goes, this is as prime as it gets.

But history suggests the deal may bring some misfortune. Since 2001, every company that has appeared on India's jersey has eventually found itself entangled in legal disputes, regulatory battles, or financial stress.

The latest name on that list is Dream11, which became the team sponsor in 2023 and now faces an existential threat from the Promotion and Regulation of Online Gaming Bill 2025.

The new legislation, passed in Parliament on Aug. 21, bans all real-money gaming apps. Dream11, which lets users create fantasy teams and wager money on player performances, falls squarely under this category. Once the Bill gets Presidential assent, the app will be permanently barred from operations in India.

It's not the first regulatory headache for Dream11. Earlier this year, the company faced a tax demand of around Rs 1,200 crore for alleged GST evasion, though one notice was later withdrawn. Fresh scrutiny from tax authorities is expected, raising doubts about whether Dream11 can sustain its sponsorship through to 2026.

A History Of Sponsors In Trouble

Sahara (2001–2013): Sahara group's empire crumbled after raising about Rs 24,000 crore from investors. SEBI action, non-compliance with Supreme Court orders, and Subrata Roy's 2014 arrest defined its downfall.

Star India (2014–2017): The Walt Disney-owned broadcaster carried the jersey through the early Kohli era. But Star later faced antitrust scrutiny from the Competition Commission of India, and its streaming arm Hotstar struggled, eventually merging with Jio.

Oppo (2017–2020): The Chinese smartphone maker signed a Rs 1,079 crore deal but exited early, citing poor returns. It was already battling legal disputes with Nokia and InterDigital.

Byju's (2020–2022): The edtech unicorn saw mounting losses, payment defaults, and insolvency petitions soon followed. By 2023, the BCCI had dragged Byju's to NCLT over a Rs 158 crore default.

Dream11 (2023–Present): The fantasy gaming company has enjoyed visibility but remains on shaky ground. The new gaming Bill threatens to wipe out its main revenue stream, leaving its future with BCCI uncertain.

'Curse' Or Irrational Exuberance?

Companies tend to sign mega sponsorship deals at the peak of their financial cycles, in moments of irrational exuberance. Once market realities catch up, the deals look unsustainable.

It's the corporate version of the "magazine cover indicator" when Business Week famously declared "The Death of Equities" in 1979, which ironically actually marked the end of a 20-year bear market and the start of a historic bull run. For BCCI sponsors, jersey visibility may be the high-water mark, often followed by a sharp mean reversion.