DREAM 11 IS THE NEW SPONSOR OF THE UPCOMING IPL 2020 WITH AVERAGE BID OF 234 CRORE

DREAM 11 TO SPONSOR THE 2020 EDITION OF THE IPL WITH AVERAGE BID OF 234 CRORE:

The Board of Control for Cricket in India (BCCI) has awarded the title sponsorship rights of Indian Premier League (IPL) 2020 to fantasy cricket league platform Dream11,with the average bid of 234 crore. It was interesting to see that Unacedmy,Patanjali ,Byju,Jio and Tata was already in the list but the winner came on to be Dream 11.

DREAM 11 to SPONSOR IPL 2020

DREAM 11 have made a three-year winning bid to bag the Indian Premier League(IPL)title rights. The fantasy sports platform – a start-up pioneered by two Indian entrepreneurs – have made a bid for three years, subject to Vivo’s return next year.If vivo the title sponsors who exited the space two weeks ago,come back to the table next year, Dream 11 will have to make way. However, if Vivo do not return as title sponsors, the fantasy sports start-up will continue to hold the title rights till the 2022 edition.

Dream11 wins IPL 2020 title sponsorship for Rs 222 crores: IPL Chairman Brijesh Patel

— ANI (@ANI) August 18, 2020

Dream11's winning bid was Rs 222 crores for a year. Unconfirmed sources say Byju's and Unacademy bids were substantially lesser. Byju's and Unacademy are already associated with BCCI as Indian cricket team sponsors and official partners of IPL, respectively.

The IPL 2020 title sponsorship fell vacant after Vivo, which had signed a 2000-crore-plus five-year deal (2018-2022) with BCCI, withdrew after the Boycott China campaign gathered steam in the wake of the India-China standoff at Galwan Valley in Ladakh in June. Vivo is fully funded by a Chinese company.

IPL 2020-DREAM11

When the BCCI asked for bids for the IPL 2020 title rights last week, it had clearly said: "For the avoidance of doubt, it is clarified that BCCI shall not be obliged to award the Rights to the third party which indicates willingness to pay the highest fees in the course of discussions/ negotiations with BCCI after submitting an EOI.It is now clear that the BCCI went for money and not the desi (Indian) image of a brand like Unacademy.