Dream11 wins IPL 2020 title sponsorship for ₹222 crore
On 14 August, BCCI had received expression of interest (EoI) from five companies -- Tata Sons, Patanjali Ayurveda, Jio, Byju's and Unacademy -- for four-month long sponsorship
New Delhi: Online fantasy gaming platform Dream11 has bagged the title sponsorship of the Indian Premier League (IPL) 2020, confirmed league's chairman Brijesh Patel. The firm paid ₹222 crore for the title sponsorship of the 13th edition of the league to be played in UAE from 19 September.
Dream11 replaces Chinese smartphone maker Vivo as the title sponsor for this year. Vivo had been paying ₹440 crore annually for the sponsorship.
"Dream11 has quoted ₹222 crore as bid. They have been supporting cricket and other sports in the country. The firm has been associated with IPL as an associate sponsor for two years and will now represent the league as title sponsor," Patel told Mint.
An associate sponsor of IPL since 2018, Dream11 outbid Tata Sons, Unacademy and Byju's who also placed bids for the sponsorship. On 14 August, BCCI received expression of interest (EoI) from five companies -- Tata Sons, Patanjali Ayurveda, Jio, Byju's and Unacademy-- for four-month long sponsorship of the T20 league.
The Board of Control for Cricket in India (BCCI) is expected to make a formal announcement later today.
Earlier this month, Vivo and BCCI mutually decided to pause their association following anti-China backlash.