The BCCI reported the fantasy gaming platform Dream11 as this year’s IPL title sponsor, but the company will not remain on board for another two seasons after its conditional three-year proposition was rejected due to ‘low-bid’ offered for 2021 & 2022.
Dream11 had earlier out-bid educational-start-up Byju’s & Unacademy to win the rights with a bid of Rs 222 Crore, which was almost 51% less than the Chinese phone company Vivo was paying BCCI for IPL per year, which was around Rs 440 Crore.
BCCI has announced Dream11 as their new title sponsor of the 2020, 13 edition of Indian Premier League. Dream11 offered to pay Rs 240 Crore for years 2021 & 2022, in case Vivo did not came back. Vivo had to opt out to due anti-China sentiments in India.
Dream11 outbids all the other bids & won the title sponsor for Rs 222 Crore. The hunt for title sponsor is now over, the next focus for BCCI will be on IPL 2020 schedule & Detailed Standard Operation Procedure (SOP). Soon BCCI will set practice camps for the teams in UAE.
IPL 2020 will start from 19 September in UAE, the three venues for the matches will be Abu Dhabi, Dubai & Sharjah. First match will be played between Mumbai Indians & Chennai Super Kings.