The BCCI on Wednesday said in its Official Statement that Fantasy Cricket League Platform Dream11 as the Title sponsor for the IPL 2020.
“The IPL Governing Council has announced Dream11 as the new Title Sponsor of the 2020 edition of the Indian Premier League,” the statement said. The IPL Governing Council Chairman Brijesh Patel had announced Dream11 as the title sponsor for IPL 2020 on Tuesday, after they bid Rs 222 crores for the sponsorship rights.
The cash rich league is left without a Title Sponsor after the BCCI & Chinese Smartphone makers VIVO suspended their 5 sponsorship deal for the current IPL season due to the prevailing India-China stand-off. Under the deal with VIVO the BCCI was receiving Rs 440 crores per year.
Dream11 won the sponsorship rights after outbidding the companies like TATA Sons, UnAcademy & Byju’s to win the sponsorship deal for the cash-rich league. The Mumbai based company has been associated with cricket since year 2008. The platform was founded by Harsh Jain and Bhavik Patel. Harsh Jain is son of Anand Jain, a close business and family associate of Mukesh Ambani.
The company sponsored the Otago Volts in the First Champions League. It also sponsored the last season of the New Zealand Super Smash and the T10 Vincy Premier League in the Caribbean in May. The IPL 2020 will now commence in UAE from September 19 & the finals is on 10th November.