Dream11 agrees to IPL title sponsorship on THIS major condition after BCCI's VIVO dilemma

India's top fantasy sports brand Dream11 was named the title sponsor of the Indian Premier League for 2020 on Tuesday. Dream11 replaced VIVO after the BCCI had earlier suspended the Chinese smartphone making company's contract as the title sponsor for the high-octane league. Dream11 will now shell ₹222 crore to be the title sponsors for the 13th edition of the IPL.

ALSO READ | IPL Dream11 deal: Dream11 to be IPL 2020's title sponsor; replaces VIVO in estimated Rs 222 crore deal

IPL sponsors: BCCI rejects Dream11's bid for IPL 2021 and 2020

Dream11 won the IPL sponsorship rights for 2020 but the fantasy sports company dropped a demand that it should be automatically given the rights for the next two years if VIVO pulls out in 2021 and 2022 as well. Dream11 came onboard as IPL sponsors after they outbid BYJU's at ₹201 crore and Unacademy at ₹171 crore. Dream11 also beat yoga guru Baba Ramdev's Patanjali and Jio Communications, who were also reportedly in contention to join the race for the IPL title rights.

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Dream11 offered to pay ₹240 crore each for IPL 2021 and IPL 2022 if VIVO opts out. After the VIVO IPL deal fallout where the Chinese smartphone making company was supposed to pay ₹440 crore per year, the Board of Control for Cricket in India (BCCI) was without a title sponsor for the IPL 2020. The VIVO IPL deal fallout originated because of the anti-China sentiment across the country post the India-China standoff at the Galwan Valley, where 20 Indian soldiers were martyred in June.

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According to sources, BCCI and Dream11 negotiated on the conditional three-year bid and the board asked the company to raise the amount considerably for the IPL 2021 and 2022. A veteran BCCI official told PTI that although Dream11 did bid the highest but zeroing on ₹240 crore for the next 2-3 years would not be a wise decision as the BCCI still has their deal with VIVO, which is worth ₹440 crore per season. 

The IPL 2020 is set to be played in the UAE from September 19 with the final scheduled to be played on November 10. The 53-day tournament will witness ten-afternoon matches starting at 3:30 PM (IST) while the evening matches will start at 7:30 PM (IST). The franchises have already started gearing up for the tournament and are leaving no stone unturned to ensure the safety of the players.

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IMAGE COURTESY: IPLT20.COM