Dream11, the online fantasy sports company, has won the title sponsorship rights for the IPL 2020, according to reports in the Indian media on Tuesday.
According to ESPNcricinfo, Dream11 secured the rights with a bid of INR 222 crore, seeing off Byju’s and Unacademy.
The rights will run till December 31 this year, after Vivo, who initially held the rights for the period between 2017 and 2022, had pulled out from their sponsorship commitments for the 2020 edition in the wake of a public outcry in India against Chinese companies, following border clashes in June.
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The BCCI hadn’t offered any explanation for why Vivo initially pulled out, simply stating in their release that the two parties had “decided to suspend their partnership for Indian Premier League in 2020.”
According to the Times of India, Dream11 will continue holding the rights till 2022, unless Vivo chooses to take up the sponsorship rights next year. If Vivo does opt to return, Dream11 will have to make way.
With an INR 222 crore bid, BCCI seem to have recouped up to 49.5 per cent of Vivo’s initial five-year contract, which was worth INR 440 crores a year.
Dream11 is a popular fantasy sports platform, and is one of ICC’s global partners.
