Highlights:
- IPL 2020 gets its Title Sponsor
- Dream 11 pays Rs 222 crore to get the title sponsorship rights
- IPL is set to begin from 19th September in UAE
The fantasy sports platform Dream 11, on Tuesday, won the race for the title sponsorship of the 13th edition of the Indian Premier League and signed a deal with the Board of Control for Cricket in India (BCCI) for a whopping Rs 222 crore.
This took place after the China based smartphone manufacturer, Vivo, backed out of the IPL 2020 title sponsorship owing to the rise in anti-China sentiment in the country.
IPL 2020 is set to begin from the 19th of September and will be hosted in the United Arab Emirates (UAE).
Brijesh Patel, Chirman of the Indian Premier League said, “Fantasy sports platform Dream11 wins IPL title sponsorship rights with a bid of ₹222 crore,”.
In total, Dream 11 will hold the rights for four months and 13 days.
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Tata Group which is a MultiNational Conglomerate along with the education technology firm Unacademy were also in the race to land the Title Sponsorship for IPL 2020, but Dream 11 outbid them all.
The 13th edition of the Indian Premier League will be held in the United Aram Emirated and will begin from the 19th of September while the finale is scheduled for the 10th of November this year.
Vivo paid Rs 440 crore annually to BCCI for the title sponsorship of IPL and dropped out for this year due to the Sino-India border stand-off.
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Last week, BCCI said, “IPL 2020 will be played from September 19 and the final will be played on November 10, 2020. The 53-day tournament will witness 10-afternoon matches starting at 15:30 IST while the evening matches will start at 19:30 IST,”.
Initially, the IPL was supposed to begin from the 29th of March this year but a nationwide lockdown was imposed 4 days before the start of the tournament to contain the spread of the novel Coronavirus.
On the 10th of August, the Board of Control for Cricket in India had sent out invitations to third parties to share their Expression Of Interest (EOI) in acquiring the title sponsorship for the Indian Premier League 2020.
The board had said that the turnover of the interested third party must be at least 300 crore as per the last audited accounts.
This year’s IPL which is a T20 cricket tournament will be played at 3 different venues in the UAE which will be Abu Dabhi, Dubai, and Sharjah. Both afternoon and evening matches will be played during the 13th edition of IPL half-an-hour earlier than usual.
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