Dream11 is the new title sponsor for the Indian Premier League (IPL) 2020 after Chinese smartphone-maker Vivo’s exit. The fantasy cricket league platform outbid companies like Tata Sons, Unacademy and Byju’s to bag the sponsorship deal for the cash-rich league. IPL 2020 will be called Dream11 IPL.
Fantasy sports platform Dream11 has won the title sponsorship for IPL 2020 for Rs 222 crores, outbidding favorites Tata Sons and education technology platforms — Byju’s and Unacademy.
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.
The BCCI had earlier announced 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.
The IPL will be held from September 19 to November 10 in the UAE this year. “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.
” I would like to congratulate the 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,” Vinit Godara, Co-Founder and CEO, Myteam11 Fantasy Sports Pvt. Ltd said.