BH CORRESPONDENT, Mumbai: Fantasy sports platform Dream11 will be the title sponsors of the Indian Premier League (IPL), which will be held in UAE this year. After Chinese smartphone-makers Vivo suspended their contract for IPL this year, Dream11 outbid companies like Tata Sons (Rs 180 crore), Unacademy (Rs 210 crore) and Byju’s (Rs 125 crore) to win the title sponsorship deal.
Dream11 bid Rs 222 crore for the sponsorship rights, IPL chairman Brijesh Patel said. However, this was a heavy discount of nearly 50 percent of what Vivo were paying for the same rights (Rs 440 crore).
Vivo and BCCI postponed their partnership for one year. Although no reason were given by both the parties, it was understood that the prevailing India-China border situation was the main reason of the discontinuation of the deal.
“The Board of Control for Cricket in India (BCCI) and Vivo Mobile India Pvt Ltd have decided to suspend their partnership for Indian Premier League in 2020,” a BCCI statement on August 6 read.