IPL 2020 | Dream11 bags IPL sponsorship rights with 250 cr bid
Fantasy sports giant Dream11 has bagged the IPL 2020 title rights, bidding a sum of 250 cr, 190 cr less than what Chinese Mobile giant VIVO was paying to the BCCI. The conglomerate was an official partner with the BCCI for the previous editions and has bagged the title rights this year.
SportsCafe understands Fantasy Sports giant Dream 11 has bagged the title sponsorship rights for the 2020 edition of the Indian Premier League (IPL). We can independently confirm that Dream11 had been the front-runner in the process alongside Tata Sons, Byju's and Unacademy, but their bidding amount of 250 cr was 40 cr more than second-best bid, from Unacademy, which was ready to shell out 210 cr.
Byju’s put up an uninterested bid of 125 cr while Tata apparently were ready to give close to 200 cr. However, another source duly refuted that Tata was not even on the bidding table.
It must be noted that despite heavy speculations, Reliance Jio and Patanjali didn’t bid for the IPL title rights, with Baba Ramdev later saying that he would bid for the IPL if an Indian company failed to take the rights and that he wouldn’t want any Chinese company taking over the IPL rights.
Earlier, on August 10, BCCI, in a press release, confirmed that the rights for the title sponsorship were available for the period from August 18, 2020 to December 31, 2020 and the “turnover of the interested third party must be over INR 300 Crores (Indian Rupees Three Hundred Crores only) as per the last audited accounts.”
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