Fantasy sports platform Dream11 has won the title sponsorship for IPL 2020 for Rs 222 crores, outbidding favorites Tata Sons, Patanjali, and education technology platforms –Byju’s and Unacademy. IPL Chairman Brijesh Patel announced in his media briefing to PTI that Fantasy sports platform Dream11 wins IPL title sponsorship rights with a bid of ₹222 crores.
Smartphone Company Vivo had pulled out from being the title sponsor of this year’s Indian Premier League (IPL), amid a growing backlash against Chinese companies in India.
Last year, Dream 11 was one of the official partner of the IPL but this time this fantasy platform will be the title sponsor. While Dream11’s winning bid was Rs 222 crores, Unacademy’s bid amount was 210 crores followed by Tatas (180 crores) and Byju’s (125 crores).
Vivo India had bagged the IPL title sponsorship rights for five years in 2017 for Rs 2199 crore, committing to pay the league approximately Rs 440 crore every season. The Chinese mobile-manufacturer had replaced soft-drink giants PepsiCo to enter the title sponsorship. Before Vivo and Pepsi, DLF was the Title Sponsor of IPL.
The BCCI had earlier announced that Companies with a turnover of over Rs 300 crores will be allowed to bid for the rights which are available for the period from August 18, 2020 to December 31, 2020.
On August 10, the Board of Control for Cricket in India (BCCI) had sent out invitations to third parties to express their interest (EOI) in acquiring the title sponsorship rights for IPL 2020.
Multinational Group Tata Sons were considered the frontrunners while digital education technology platforms Byju’s and Unacademy also in the race.
Along with Dream 11, Yoga guru Baba Ramdev’s Patanjali and Jio Communications were also in the fray to join the race for IPL title rights and had submitted Expression of Interest.
This year IPL will be held from September 19 to November 10 in the UAE. “IPL 2020 will be played from September 19 and the final will be played on November 10, 2020. The 53-day tournament will witness 10-afternoon matches starting at 15:30 IST while the evening matches will start at 19:30 IST,” said BCCI last week.
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