IPL 2020 Latest News: Dream11 have made a three-year winning bid to bag the Indian Premier League (IPL) title rights.
The fantasy sports platform – a start-up pioneered by two Indian entrepreneurs – have made a bid for three years, subject to Vivo’s return next year.
IPL 2020 Latest News
- Should Vivo India – the title sponsors who exited the space two weeks ago – come back to the table next year, Dream 11 will have to make way.
- However, if Vivo do not return as title sponsors, the fantasy sports start-up will continue to hold the title rights till the 2022 edition.
- IPL 2020 Latest News, The break up of Dream11’s winning bid is as follows: Rs 222 crore for the first year, Rs 240 crore for 2nd year and Rs 240 crore for 3rd year, for an average of Rs 234 crore per year.
- It could not be confirmed if Tata Sons, who had expressed interest in the IPL title rights and had spiked the interest, came to the bidding table.
- E-learning start-ups Byju’s and Unacademy could not muster up the numbers either.
Dream11 IPL Sponsor News
- In the wake of all the controversy surrounding Chinese investments in Indian sports, especially cricket, the BCCI has underlined that “Dream 11, essentially, is an Indian start-up with single-digit Chinese investment that is negligible and can be resolved internally”.
- The BCCI is primarily of the view that with a digital platform coming on board, it will boost IPL’s fan engagement that has been lying passive over the last few months, especially due to the Covid19-led slowdown.
- TOI can confirm that Tatas were looking to make a “handsome bid” subject to certain conditions.
- Tatas’ primary objective was to block three categories (different brands under the group) through the title sponsorship while the BCCI had maintained that the space would invite only a single-brand activity.
- “Only one category was available to block and that’s what has not worked in favour of Tatas”, sources in the know said.
- Dream11’s Rs 230 crore bid is 51% of what Vivo was paying the BCCI.