The fantasy gaming platform Dream11 secured the rights of IPL 2020 title sponsorship in the UAE on August 18 (Tuesday). Meanwhile, Tata Group was in the race for the title sponsors; however, pulled out in the last minute. However, it shocked many seeing a heavyweight not entering the bidding turf.
Meanwhile, a lot of dilemmas had cropped up since VIVO pulled themselves out of IPL 2020. Incidentally, the Chinese mobile making company were the title sponsors until 2023. However, owing to social media backlash in the aftermath of the tension between India-China, they pulled out of the deal of the 13th edition of the cash-rich league.
Why Tata pulled out of IPL 2020 title sponsorship?
Dream11’s bid of Rs 222 crore was enough for them to bag the IPL 2020 sponsorship. On the other hand, Byju’s and Unacedemy, came second and third in the race having bid Rs 201 crore and Rs 170 crore. However, the absence of Tata Group shocked many.
Reports suggest that BCCI didn’t agree to the conditions put forward by Tata. TOI stated that Tata Group was set to make a handsome bid for the IPL 2020 sponsorship but wanted to block three categories (brand names under the group). However, the apex body only allows space for only a single-brand activity under the title sponsorship rights which went against Tata.
Meanwhile, TOI also stated that Dream11 has made a three year deal with BCCI for the title sponsorship. They have agreed on Rs 712 crore and will continue at the helm in case Vivo doesn’t return next year. Dream11 will pay Rs 222 crore this and Rs 240 crore each for the next two years for the sponsorship rights.
The 13th edition of IPL will commence from September 19 in the UAE and will run until November 10. This is the second time the tournament will take place in UAE. The franchises will leave for the country by August 21-22 and will stay in a bio-secure bubble throughout the tournament.