It seems like a match made in heaven!
Fantasy game platform Dream11, whose brand ambassador is MS Dhoni, has won the title sponsorship for IPL 2020 (Indian Premier League)
Here are some very interesting details.
Dream11 Wins IPL 2020 Sponsorship
After Vivo backed out of the IPL 2020 title sponsorship, there are mainly three bidders:
Fantasy gaming platform Dream11, educational and learning app Byju’s and online education platform UnAcademy.
As per some reports, Tata Group and Patanjali were also in the race, but its not confirmed yet.
While Byju’s bid was at 201 crore, Unacademy had placed a bid of Rs 171 crore.
The winner was Dream11, which had bid Rs 222 crore.
Dream11 Gets IPL 2020 Title Sponsorship At 50% Discount
Vivo is the original title sponsors for IPL 2020, and they had committed to pay Rs 2199 crore for 5 years, starting from 2018.
This comes out to be Rs 440 crore, for each year.
However, due to anti-Chinese sentiments reigning high across India, Vivo decided to pull off from the title sponsorship of IPL 2020, which is happening in UAE this year.
Hence, Dream11 was able to grab a best deal, at 50% discount.
IPL Chairman Brijesh Patel said, “In the given circumstances, we are happy with the deal. These rights are only for four months and only for this edition of the IPL,”
It’s a win-win situation for both Dream11 and BCCI: While BCCI was worried over sponsorship issues, moreover, since Vivo suddenly backed off, and the matches will happen in UAE.
And for Dream11, it’s a perfect match, since MS Dhoni is already the brand ambassador, and they are into the niche of sports.
Now, in case Vivo doesn’t decide to come back for title sponsorship, then Dream11 will continue to be title sponsors till 2022.
Here is the breakup of sponsorship fees they have placed as bid:
Rs 222 crore for 2020
Rs 240 crore for 2021
Rs 240 crore for 2022
This comes to an average of Rs 234 crore for three years.
We will keep you updated, as more details come in.
Comments are closed, but trackbacks and pingbacks are open.