IPL 2020: KL Rahul in tears after returning to the cricket field
18 Aug 2020
Dream 11, a popular fantasy cricket platform has bagged the title sponsorship for the 13th edition of the Indian Premier League. The winning bid is said to be INR 222 Crore, IPL Chairman Brijesh Patel confirmed the latest development.
Next in the race were Unacademy and Byju’s. The respective bodies bid at INR 171 Crore and INR 201 Crore respectively. The deal will run from August 18 till the end of the year 2020.
Previously, Vivo had pulled out of the title sponsorship deal due to tension between India and China at the border. They invoked the ‘Force Majeure clause’ in order to exit from the sponsorship deal.
It is to be mentioned that the BCCI had collaborated with Dream 11 as one of its official partners for IPL 2019. The two bodies signed a four-year deal with Dream 11 getting the bragging rights of being the ‘official' fantasy game of IPL.
The BCCI has incurred INR 220 Crore loss due to the change in guard for the title sponsorship. However, the association with Vivo is likely to resume in 2021. The deal is likely to come as a relief to the BCCI as they have sustained financial losses due to the rise of Covid-19 in India.