Dream11 IPL 2020: The fantasy platform was among the four shortlisted companies in the race for the title sponsor of IPL 2020.
Fantasy platform Dream11 has won the race to become the title sponsor of the 13th season of the Indian Premier League. Slated to begin from September 19 in UAE, IPL 2020 will now be termed as Dream11 IPL 2020.
The development comes after mobile manufacturing company Vivo pulled out as the title sponsor of the the extravagant T20 competition. Despite spending INR 2,200 crore for their contract between 2018-2022, Vivo had disassociated for a year due to the political tension between India and China.
Dream11 IPL 2020
Other than Dream11, multinational conglomerate Tata Sons and tech-education apps in Byju’s and Unacademy were shortlisted to be eligible to secure the deal.
In its official statement, BCCI (Board of Control for Cricket in India) had earlier mentioned that companies with a turnover of over INR 300 crores will be allowed to bid for IPL 2020 title sponsorship rights. It is worth mentioning that these rights will be valid for a period between August 18, 2020 to December 31, 2020.
While Vivo used to spend in vicinity of INR 440 crore per year for the title sponsorship, BCCI was expected to incur this loss primarily due to the adverse affect of COVID-19 pandemic on the economy. Having said that, Dream11 paying INR 222 crore for IPL 2020 should still be considered as a victory for the cricket board.
How Twitterati reacted:
— Boria Majumdar (@BoriaMajumdar) August 18, 2020
Welcome to the #Dream11IPL. The new economy companies are dreaming big. Good to see.
— Harsha Bhogle (@bhogleharsha) August 18, 2020
— Sreedhar Pillai (@sri50) August 18, 2020
For more cricket-related news, click here.