The much anticipated race to IPL 2020 sponsorship has finally culminated with India’s most prominent fantasy sports platform Dream11 emerging as the winner. Dream11 submitted a bid worth INR 222 Crores to become the official title sponsors of IPL 2020. They outbid the likes of Byju’s, Unacademy, and Tata Sons to become the rights holder. Patanjali Ayurveda was also a part of this race, but they pulled out at the last moment.
Dream11 has gained much popularity in India over the last few years. MS Dhoni has been the face of the brand and commercials featuring him have helped Dream11 grow in the fantasy sports industry. The concept of fantasy cricket helps the fans engage with the game in a deeper way, and this could be the key reason why BCCI allotted the rights to Dream11.
Besides, Dream11 was also one of the official partners of IPL 2019. The official fantasy sports game of IPL 2019 was powered by Dream11 only. Speaking of the new deal, BCCI has suffered a massive loss worth 218 Crores from the deal. While everyone is looking at the positive side that an India-based firm has sponsored IPL, the negative impact is that Vivo would pay 440 Crores for the same rights this year.
If there would have been no political tensions between India and China, Vivo would have continued as sponsors and paid 440 Crores to IPL organizers. The new sponsors will only pay 222 Crores per year, resulting in a loss of 218 Crores for the stakeholders. It will be intriguing to see how the franchises react to this because the title sponsorship was a major revenue generator for IPL teams.
Also, there will be no home matches for any teams in IPL 2020, while the accommodation expenses will also be high. Nevertheless, Dream11 would be extremely happy with the deal and here’s the best tweet reacted to this announcement.
JUST IN : Dream 11 to be new IPL sponsor
— BCCl ➐ (@not_BCCI) August 18, 2020