However, the fantasy gaming platform will not be on the board for next two seasons i.e - season 2021 and 2022 after its conditional three-year proposal was rejected due to 'low' bid.
A PTI report quoted the BCCI 's statement saying that "The IPL Governing Council has announced Dream11 as the new Title Sponsor of the 2020 edition of the Indian Premier League. Dream11 (Sporta Technologies Pvt. Ltd) is an Indian company based in Mumbai, Maharashtra."
Yesterday, IPL Chairman Brijesh Patel had also confirmed the development that fantasy gaming platform Dream11 has won the title sponsorship for IPL 2020 for Rs 222 crores, outbidding favourites Tata Sons and education technology platforms - Byju's and Unacademy.
However, the firm negotiated on the conditional three-year bid and the board asked the company to raise the amount considerably for the next two seasons. As per the PTI report, the source aware of the development stated that the Cricket board is likely to open fresh bids for 2021 and 2022.
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IPL 2020 is all set to take place from September 19 in the United Arab Emirates (UAE), outside India, due to the COVID-19 situation in the country. The final game of the 53-day tournament will take place on 10 November.
To minimize the traveling of players in the wake of the fast-spreading infection, BCCI Governing council have decided to use Dubai, Abu Dhabi and Sharjah as the three venues.