Dream11 recently won the title sponsorship rights of the cash-rich Indian Premier League [IPL]. But ever since the announcement was made, the fantasy sports platforms have come under heavy scrutiny for being associated with Chinese investors.
And, now the company has come out to clear out the air. According to a Dream11 spokesperson, the fantasy-based sports platform is a ‘homegrown’ Indian brand, which included its founders, 400-plus employees, and its investors such as Kalaari Capital and Multiple Equity. And, out of the five investors, only one them- Tencent Holdings- has Chinese origins and a minority 9 percent stake.
”Dream11 is almost entirely owned by Indians, which includes its founders, all 400+ Indian employees and our Indian investors such as Kalaari Capital and Multiples Equity. Out of the five investors, one of the investors has Chinese origins and holds a very small minority stake,” a Dream11 spokesperson told IANS,
“Dream11 is a completely homegrown Indian brand. We are proud to say that the entire product and technology of Dream11 is developed within India, by Indians and is exclusively available for only Indian sports fans,” he added.
‘IPL will mark the comeback of mainstream Indian cricket’- Dream11 spokesperson
When asked about the sponsorship deal, the Dream11 spokesman said that they are proud of being the only sports-based company to ever be IPL’s title sponsors.
“With live sporting action being missed by Indian sports fans due to the COVID-19 pandemic, IPL will mark the comeback of mainstream Indian cricket, making this IPL season the most-awaited and watched sporting event in India. Dream11 is the only sports brand to bag the title sponsorship in the IPL’s history,” the official said.
“It will be a treat for sports fans to see the collaboration of one of the biggest Indian homegrown sports brands, thereby making sports fan engagement central to this year’ he added.
Post the deadly clash between Indian and Chinese troops at the Galwan Valley, the government banned as many as 59 Chinese apps, citing a treat to national security. And, with the IPL title sponsor being a Chinese mobile company [Vivo], there was a huge uproar in the country, post which Vivo decided to opt-out of the title sponsorship, paving way for the fantasy platform to come into the picture at a price of Rs 222 Crore.