Dream 11 won the title rights for IPL 2020 after bidding Rs 222 crore
Dream 11, the country’s fantasy sports platform won the title rights for IPL 2020 after bidding Rs 222 crore, and now is the title sponsor of the current edition of the Indian Premier League IPL 2020. Earlier, China’s Vivo sponsorship of the IPL was suspended due to political reasons between the two countries.
Dream XI has received IPL sponsorship only for the current season. Where the coronavirus event will be held outside the country.
Brijesh Patel, chairman of the IPL Governing Council, confirmed the information to media on Tuesday (August 18).
The Chinese company Vivo first won the IPL title sponsorship in 2015 for two years. Later in 2016, Vivo took the sponsorship of this popular franchise tournament till 2022 on a five-year contract.
However, in the wake of the border clash between the Indian and Chinese armies in June this year, the country’s cricket fans and the general public have demanded the cancellation of the Chinese company’s sponsorship from the IPL. In response to that demand, the IPL authorities suspended Vivo’s sponsorship for the current year.
After the cancellation of Vivo’s sponsorship, the BCCI also looked into the sponsorship of the domestic company. Apart from Dream 11, companies like Geo, Amazon, Tata Group, and Baiju beat it to get sponsors. However, leaving everyone behind, Dream XI won the right to sponsor the IPL title for the current edition.
While the Indian institution Bauju agreed to pay Rs 201 crore, the non-academy agreed to pay Rs 161 crore. However, Dream XI has won the IPL 2020 sponsorship rights with Rs 234 crore (about Rs 275 crore).