It’s official Fantasy cricket platform Dream 11 will be the title sponsor of IPL 2020 in the UAE. Dream 11 beat Byju’s and Unacademy in the end with a leading bid of INR Rs. 222 crores. The rights are established from August 18 to December 31, 2020. Tata Sons who had shown interest to purchase the title rights of IPL 2020 decided not to place a bid.
After Chinese mobile maker company had separated with the IPL this year BCCI were working overtime to find a new title sponsor for IPL 2020. VIVO had signed a five-year deal in 2018 worth INR 2199 crore, which made BCCI about INR 440 crore per season.
BCCI ropes Dream 11 as IPL 2020 title sponsor
Moreover, according to the revenue distribution contract between BCCI and IPL franchise buyers in 2018, the teams made 50 per cent of the proceeds from the central rights that included broadcast, title and additional sponsorship deals struck by the board. Around INR 111 crore will be cut within the franchises for this season, as opposed to twice the amount which did INR 220 crore each season since VIVO signed up.
Meanwhile, Dream 11 was previously an official partner of the Indian premier league. Last year the fantasy sports platform had signed a deal with the most prominent T20 league in the world. But now after their last-minute bid, they have become the official Title sponsor the for the 13th edition of the Indian Premier League.
The BCCI is also reportedly contemplating to rope in Unacademy and Cred as official partners for IPL 2020 in the UAE. The cricket board is likely to make over Rs 300 crore as sponsoring money. The IPL is all set to kick off from September 19 next month and all matches will be contested in a biosecure bubble in the United Arab Emirates.