Bengaluru, August 18: Dream11 on Tuesday (August 18) has bagged the title sponsorship rights for IPL 2020 for Rs 222 crore. The fantasy sports platform overcame stiff challenge from corporate giants Tata Sons, and online education platforms Byjus and Unacademy.
The ANI quoted IPL Governing Council Chairman Brijesh Patel as saying that the Dream11 tide over other contenders. BCCI had made it clear in their bidding conditions that companies that have a minimum turnover of Rs 300 crore can participate in the bidding. The contract will run from August 18 to December 31, 2020.
The length of the contract makes it mandatory that the BCCI should find another title sponsor for the IPL 2021, or they should ink a new deal with the Dream11 for a reworked amount.
Meanwhile, MyTeam11 Gaming Industry welcomed Dream11's title sponsorship rights. Vinit Godara, Co Founder and CEO, Myteam11 Fantasy Sports Pvt. Ltd said, "I would like to congratulate fantasy cricket league platform Dream11 on winning the title sponsorship rights of IPL 2020. I think this is a big moment for the entire fantasy gaming fraternity. Fantasy gaming is one of the swiftest growing online businesses to thrive in recent times. I think this is the moment of arrival and fantasy gaming has finally got its due of being the game where the fans get the right platform to engage and be the closest to the game."
The BCCI was forced to find a new sponsor after Chinese smartphones major Vivo and the BCCI parted ways mutually. The BCCI or Vivo did not specify the reason but it has been speculated that the decision was taken after the existing stand-off between India and China that had also resulted in the death of 20 Indian soldiers.
Since then the boycott China products chants have gripped the nation and the BCCI had to follow the suit. However, it was initially decided in an IPL Governing Council meeting that all the sponsors including the Vivo would be retained for IPL 2020.
But there was a nationwide uproar over the BCCI's decision to keep a Chinese firm as title sponsor of a flagship event like IPL and several persons and organisation had written to the cricket governing body and India government asking the BCCI to reconsider the call.
In the end, the Board of Control for Cricket in India and the Vivo arrived at a decision to part ways ahead of the IPL 2020, which will be played in the UAE because of the unabated Covid 19 situation in India.