BCCI confirms Dream11 as IPL 2020 title sponsors.
BCCI announced the fantasy sports platform, Dream 11, as the title sponsors of this year’s Indian Premier League.
On Tuesday, the Board of Control for Cricket in India (BCCI) announced the new title sponsors for this year’s Indian Premier League (IPL). Fantasy gaming platform Dream11 became the title sponsors of the 13th season of IPL, replacing Chinese mobile phone company Vivo, with a bid of INR 222 crore. For a couple of years now, Dream11 has been one of the IPL sponsors.
Dream11 to pay an average of INR 234 crores for IPL title sponsorship rights:
IPL Chief Brijesh Patel confirmed the news to PTI of Dream11 becoming the title sponsors. Dream11 is deemed as a startup pioneered by two Indian entrepreneurs, have made a bid for three years, if Vivo does not return next year. Dream11’s breakup of the winning bid is as follows: During the first year, INR 222 crores, INR 240 crores to be paid each for years two and three respectively, meaning that the bid for a three-year-deal will be at an average of INR 234 crores per year. Sources revealed that the Tata group didn’t place a final bid to own the title sponsorship rights, and two education technology companies – BYJUs, bidding at 201 crores and Unacademy that presented a bid of 170 crores came second and third respectively.
Dream11 is essentially an Indian start-up, underlines BCCI:
BCCI and Vivo had suspended a 440 crore per year deal for the 13th season of IPL, to be staged in the UAE, due to the border stand-off between India and China. BCCI underlined that Dream11 was essentially an Indian start-up with minimal investment from a Chinese company. BCCI also thought that with the digital gaming platform coming on board, IPL’s fan engagement will get a massive boost.
