IPL gets a new Title Sponsor

[vc_row][vc_column][vc_column_text]The 13th edition of the Indian Premier League (IPL 2020) has got a new title sponsor. The Board of Control for Cricket in India (BCCI) has awarded the title sponsorship rights for IPL 2020 to fantasy cricket league platform Dream11.

Already a partner of the BCCI, Dream11 outbid favourites Tata Sons, a behemoth with varied business interests and a supporter of Olympic sports for decades.

The winning bid for the Dream11 was 222Cr. It is not clear will Dream11 still stay as associate partner for the league or will BCCI will now look for someone else to fill the possible vacant slot.

Dream11 was paying 40Cr as Associate Partner for IPL.

Apart from Dream11 and the Tata Group, the other bidders were education technology platforms — Byju’s and Unacademy.

The next best bids were as follows:

Unacademy (210 crores), Tatas (180 crores) and Byju’s (125 crores).

It is learnt that Dream11 won the IPL 2020 title rights on the strength of their financial bid. The BCCI had said the money would not be the only consideration but seemingly, it was.

Tata’s who were considered as favorites to win the IPL 2020 title sponsorship rights decided to put number which was below 200Cr.

The IPL 2020 title sponsorship fell vacant after Vivo, which had signed a 2000-crore-plus five-year deal (2018-2022) with BCCI, withdrew after the Boycott China campaign gathered steam in the wake of the India-China standoff at the Galwan Valley in Ladakh in June. Vivo is fully funded by a Chinese company. (Inside Sports)[/vc_column_text][/vc_column][/vc_row]