Dream11 bags title sponsorship rights for IPL 2020
Fantasy gaming platform Dream11 has won the title sponsorships rights for the upcoming IPL in UAE, it was confirmed on Tuesday (August 18).
BREAKING NEWS: DREAM XI will be the Title sponsors for @IPL this year – it’s gone for Rs 250 crore #IPL2020 #IPLSPONSORSHIP
— Vikrant Gupta (@vikrantgupta73) August 18, 2020
It is understood that Dream11 outbid the other contenders Unacademy (INR 171 crores) and Byju’s (INR 201 crores) with a winning bid of INR 222 crores.
In 2017, Vivo had signed a five-year deal with the BCCI for the 2018-22 seasons with a winning bid of INR 2199 crore. It meant that the BCCI could receive about INR 440 crores per season as part of the deal. As per BCCI’s revised revenue-sharing agreement, 50% of the winning-bid value will be split equally between all IPL franchises.
Last week, the BCCI floated an ‘Expression of Interest’ inviting fresh bids, with the last date of submission being August 14. Although the board had said that a company’s financial strength won’t be the only criteria, Dream11 reportedly won the bid on the back of their strong bid.
Last year, Dream11 partnered with the BCCI as the official fantasy gaming partner of India’s domestic and international matches. In 2018, they joined hands with the International Cricket Council, followed by associations with the NBA, Pro Kabaddi League, International Hockey Federation (FIH), Big Bash League. In 2017, they signed up with the Indian Super League and the Caribbean Premier League as the official fantasy partner.
