Dream 11 were granted the rights for Rs 222 crore:
Market leaders in the fantasy sports platform, Dream 11 will be the title sponsors of the 13th edition of Indian Premier League (IPL), which is all set to be staged in the UAE from 19th September to 10 November this year.
Dream11 was granted the title sponsorship rights for Rs. 222 crore- a nearly 50 percent discount of what the Chinese handset manufacturer Vivo was paying for the title rights of Rs. 440 crore.
Brijesh Patel, chairman of the Indian Premier League said “In this situation, we are very much happy with the deal. The title rights are only for four months and only for the 13th edition of the IPL.
Furthermore, Brijesh Patel has given confirmation that Dream11 overcome two other bidders, both are education technology platforms- Unacademy (Rs 171 crore) and Byju’s (Rs 201 crore). It is also learned that the Tata group was another organization, who expressed interest in IPL title sponsorship.
Earlier, Chinese handset manufacturer Vivo had agreed to take the Indian Premier League (IPL) title sponsorship for a massive amount of Rs. 2199 crore for five years, from the year 2018 to 2022. But after the Indo-China war, due to heavy controversy, Vivo decided to suspend its partnership with the Indian Cricket Board, BCCI.
A BCCI statement on 6th August state that “The Vivo Mobile India Pvt Ltd and the Board of Control for Cricket in India (BCCI) have taken the decision to suspend their partnership for the 2020 Indian Premier League.”
Although there is not any particular reason discovered by both the parties, it is purely understood that the decision has taken by seeing the existing Anti-China emotion in India meant Vivo didn’t see any kind of business sense in this deal and advertise heavily this year.
Recent Comments