IPL 2020: Fantasy Gaming Startup Dream11 wins IPL title sponsorship rights
Fantasy gaming platform Dream11 on Tuesday won the IPL title sponsorship rights with a bid of Rs 222 crore.
The Board of Control for Cricket in India (BCCI) invited third parties to express their interest (EOI) in acquiring the title sponsorship rights (Rights) for the Indian Premier League (IPL) 2020. In addition, which will be held in United Arab Emirates (UAE) from September 19, 2020 to November 10, 2020. The development came a week after Vivo’s exit.
Fantasy gaming platform Dream11 on Tuesday won the IPL title sponsorship rights with a bid of Rs 222 crore, replacing Chinese mobile phone company Vivo for a four and a half month deal.
It has been one of the IPL sponsors for a couple of years now. “Dream11 has won the rights with a bid of Rs 222 crore,” Patel told PTI.
It was learnt that Tata group didn’t place a final bid while two education technology companies — BYJUs (201 crore) and Unacademy (170 crore) — came second and third respectively.
Vivo and the BCCI suspended a Rs 440 crore per year deal for this season.
Why BCCI suspended deal with Vivo
The decision was taken soon after the BCCI suspended its title sponsorship deal with Vivo for IPL 2020. Following the Indo-China clash in the Galwan valley. The pressure was on BCCI to let go of Vivo as a title sponsor after the Indian government banned 59 Chinese apps in India.
Soon after the Galwan valley incident took place, BCCI took to social media to confirm that it would review its sponsorship deal.
However, after the recently concluded IPL Governing Council meet, the BCCI had retained Vivo as the title sponsor. It led to public outrage, and given the sentiments against Chinese brands and products in the country. The BCCI had to finally suspend the deal with Vivo. Vivo is expected to make a comeback as the title sponsor for IPL 2021.
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