Dream11 wins IPL 2020 title sponsorship
The Board of Control for Cricket in India (BCCI) has been looking for a new sponsor since Vivo withdrew from the IPL title sponsorship.
Within a couple of weeks of Vivo’s departure, they have announced the name of the title sponsor of this year’s IPL. Dream11, the new sponsor of the IPL, the most prestigious tournament in franchise-based cricket, is a fantasy gaming app.
Indo-China relations deteriorated as a result of recent border clashes. Since then, there have been calls for a boycott of Chinese goods across India. As a result, the Chinese company Vivo finally withdrew from the title sponsorship of the Indian Premier League (IPL) on the 4th of this month. Since then, the BCCI has been looking for a new franchise.
The BCCI confirmed the matter in a statement on Tuesday. Dream11 were awarded the rights for Rs 222 crore – a heavy discount of nearly 50 percent of what Vivo were paying for the same rights (Rs 440 crore).
“In the given circumstances, we are happy with the deal. These rights are only for four months and only for this edition of the IPL,”
IPL Chairman Brijesh Patel said.
Earlier, the company was one of the partners in the IPL.
Big companies like Byju, Unacademy, Patanjali, Tata etc. were competing with Dream11 in the title sponsorship race. But Dream11 has won the title sponsorship of this mega tournament, leaving all those companies behind.
The UAE will roll the ball of the upcoming IPL from September 19. This event will run until November 10.