IPL 2024: My11Circle outbids Dream11 for sponsorship, Saudi companies decide against bidding
Updated - 22 Feb 2024, 01:17 PM
No Saudi firms will be associated with the Indian Premier League (IPL) as associate sponsors – also known as Official Partners (OPs) – for the upcoming season of the tournament.
Two of IPL’s biggest sponsors – Aramco and Saudi Tourism – have decided against bidding for the associate sponsorship of the competition, according to a report from Cricbuzz. The bidding process concluded on Wednesday (February 21).
The report further stated that significant development took place in the bidding process with My11Circle beating Dream11 as sponsor in the fantasy games category. Dream11, who has been associated with the BCCI as well as IPL for a long, was outbid by My11Circle by over INR 110 crore.
As per the report, Dream11 submitted a bid of INR 515 crore for five seasons (INR 103 crore per season), while My11Circle came up with a bid of INR 625 crore (INR 125 crore per season). Among other categories, stock broking company Angel One Broking outbid Groww with a bid of INR 82 crore. Rupay also sealed an IPL contract as the third Official Partner (OP) slot with a bid of INR 70 crore.
Tyre manufacturing company CEAT will continue to be the strategic timeout sponsor. They have a deal to play Rs 48 crore per season. The IPL is still eyeing three more OP deals – for umpires, Orange Cap, and Purple Cap. However, they have not managed to attract any bids so far.
IPL 2024 schedule to be announced:
Meanwhile, the BCCI is reportedly set to announce the IPL 2024 schedule this week. The delay in the schedule announcement is because of the general elections. The BCCI is expected to announce the schedule in phases.
As per media reports, the seventeenth edition of the IPL is scheduled to be played from March 22 while the final is scheduled to take place on May 26, just five days before the start of the T20 World Cup. The tournament is set to be played entirely in India despite the elections. A total of ten teams will be participating in IPL 2024.
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IPL 2024
