The BCCI has awarded the title sponsorship rights of IPL 2020 to the fantasy cricket league platform Dream11. BCCI is already a partner with Dream11 and the fantasy league online platform outbid education-technology platforms Unacademy and Byju’s to bag the deal.
Interestingly, the Tata Group decided to keep themself away from the IPL 2020 title sponsorship race. Sources said the Tatas apparently wanted a barter deal in return for the IPL 2020 rights and the BCCI did not agree. This would have been Tata Group’s first venture into cricket if they had bagged the IPL title rights.
The winning bid of Dream11 was Rs 222 crores. It is rumored that Byju’s and Unacademy bids were substantially lesser. The two education-technology platforms are also the Indian cricket team sponsors and official partners of IPL.
The IPL 2020 title sponsorship fell vacant after Vivo, which had signed a 2000-crore-plus deal for a five-year period with BCCI The Chinese mobile company decided to withdraw their sponsorship after the wake of the recent India-China standoff at Galwan Valley in Ladakh in June.
The fantasy league platform already as its business ties with nearly six IPL teams and as well as with ICC. Dream11 has MS Dhoni as its brand ambassador. It gets the funding from a Chinese company named Tencent, but sources say this time a major Indian telecom fuelled their bid in search of a stronghold on the online gaming world.