IPL Chairman Brijesh Patel reportedly 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.
The move has come days after the Indian board recently suspended its title sponsorship deal with the Chinese mobile manufacturer - Vivo in the wake of Indo-China clash at the Galwan valley. As per reports, Vivo had won the IPL title sponsorship rights for five years (2018-2022) for Rs 2,190 crore, approximately Rs 440 crore per annum.
Earlier, it was reported that Mukesh Ambani-led Jio was considered to be the front runners in the race for the IPL title sponsorship.
According to sources, e-commerce giants Amazon and soft drink giant Coca Cola were also in the race. Interestingly, Team India's jersey sponsor Byju was also one of the interested parties. The homegrown brand Patanjali led by Yoga guru Baba Ramdev was also in the race of bidding for the mega sports event.
However, the race to become a new title sponsor does not automatically translate into big bucks for the BCCI. With such a short span of time and left vulnerable economically, the board was seeking around 250 to 300 crores. BCCI had announced Companies with a turnover of over Rs 300 crores will be allowed to bid for the rights.
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Meanwhile, 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.