The thirteenth edition of the Indian Premier League is unique in many ways as the premier T20 league is going to be held overseas in the UAE after a gap of five long years and would also have an Indian firm serving as the title sponsor post the governing body of the league parting ways with Chinese firm Vivo, its former title sponsor.

Much to the delight of millions of die hard T20 fans across the globe, the IPL on Thursday revealed its logo for the upcoming 2020 season featuring title sponsors Dream11. The IPL unveiled the first look of the new logo as a story on its Instagram handle with the hashtag "#Dream11IPL."

"Now taking guard, #Dream11IPL," they said in the caption.Meanwhile,defending champions Mumbai Indians also shared the logo on their Instagram handle.

 IPL New Logo (IPL Instagram Handle)

Dream11 outbid and fended off strong competition from education-technology platforms Byju's and Unacademy to win the race as the highest bidder for the IPL 2020 title sponsorship rights on Tuesday.

According to sources, Dream11 wanted to have a three-year sponsorship association with IPL but the Indian cricket board (BCCI) did not find its bids for 2021 and 2022 not very lucrative and hence only struck a deal for 2020 and hence was 'uninterested'.

ALSO READ | Dream11 To Be IPL Title Sponsor For 2020, But BCCI Rejects Their 2021 And 2022 Bid

"BCCI had said that this will be a one-year deal but Dream11 wanted to have it for three years. Dream11 has offered Rs 222 crore for this year, Rs 240 crore for the next year and Rs 240 crore for the third year," sources said.

"But the BCCI said that after the Covid-19 pandemic gets over, they are expected to get a good amount next year, so can't commit for the future. The board also said if Vivo backs out again, then Dream11 will be given the first preference.

"There was discussion going on and that's why the official announcement got delayed. But now everything is sorted out and they both have agreed to one year only. BCCI may soon issue the statement," the source added.