Dream11 wins title sponsorship rights for IPL 2020

BY S VENKAT NARAYAN

Our Special Correspondent

NEW DELHI, August 18: Dream11, a fantasy sports application, has bagged the title sponsorship rights for the Indian Premier League’s (IPL) 2020 edition for INR 2.22 billion.

Brijesh Patel, the IPL chairman, confirmed that Dream11 was finalised after “evaluating the three bids that were submitted during the prescribed window earlier today”. The other two bidders were e-learning platforms Unacademy (INR1.70 billion) and Byju’s (INR2.01 billion).

The eligible entities among those who had submitted their Expression of Interest (EoI) were asked to email bids online between 11 am and 1 pm on Tuesday. The Tata group, despite submitting the EoI document last week, pulled out of the race.

Interestingly, Dream11, which has been a BCCI and IPL partner for a couple of years now, also has a minority investment by Tencent Holdings, a Chinese firm.

Last week, BCCI was forced to invite expression of interest for title IPL title sponsorship rights following Vivo India’s pullout barely six weeks before the start of the cash-rich tournament’s 13th edition. It is to be played from September 19 to November 10 in the United Arab Emirates (UAE).

Vivo India’s deal was valued at INR4.40 billion per annum.