Fantasy sports platform Dream11 has won the title sponsorship for IPL 2020 for Rs 222 Crores. Dream11 have left behind favourites Tata Sons and education technology platforms — Byju’s and Unacademy to bag the lucrative deal. While Dream11’s winning bid was Rs 222 crore, Unacademy’s bid was 210 crores followed by Tatas (180 crores) and Byju’s (125 crores).
The BCCI had earlier announced Companies with a turnover of over Rs 300 crores will be allowed to bid for the rights which are available for the period from August 18, 2020 to December 31, 2020. Dream11 had bid for the title sponsorship but were not among the favourites as per media reports.
Multinational Group Tata Sons were considered the front-runners while digital education technology platforms Byju’s and Unacademy were also in the race. The likes of Patanjali and Jio Communications were also in the fray to join the race for IPL title rights.
Earlier this month, Vivo had sensationally pulled out as sponsors. The Chinese mobile manufacturing giants took the decision just a couple of days after the after the IPL Governing Council announced that it has retained all of its sponsors including Vivo for IPL 2020.
The Chinese company was in the middle of a social-media storm after the IPL GC’s decision. The BCCI and the IPL GC faced criticism for deciding to not cut ties with the Chinese company. Chinese sponsorship became a bone of contention after the deadly clashes between the Indian and Chinese troops in eastern Ladakh in June.
Vivo had secured the IPL sponsorship rights for 2018-2022 for nearly 2200 crore. Several media reports had also suggested that they pulled out of the deal only for this year because of financial reasons. They pay BCCI a staggering amount of Rs 440 crore every year for being the title sponsors.
Giving that amount when consumers are boycotting Chinese products is not easy but Vivo would have still remained the sponsors if the tournament took place in its original slot. The smartphone makers wanted the deal deferred by a year on grounds that paying Rs 880 crore for two seasons in a span of six-seven months is not easy.
IPL 2020 is scheduled to be played from September to November while next year’s tournament is set to be played in normal time (April – May). The thirteenth edition of the IPL is scheduled to start on September 19.