Fantasy cricket platform Dream 11 has bagged the title sponsorship for IPL 2020 with a winning bid of INR 222 crore. Dream 11 beat Unacademy (INR 171 crore) and Byju’s (INR 201 crore) to clinch the deal which will run from August 18 to December 31, 2020.
Vivo and the BCCI suspended a Rs 440 crore per year deal for this season owing to the border stand-off between India and China.
The IPL starts on September 19 in the UAE, moved out of India due to the COVID-19 pandemic this year.
Dream11 is an Indian company founded by Harsh Jain and Bhavit Sheth. “Dream11 stakeholders, including its founders plus all 400 plus employees, are Indian,” a BCCI source said.
“Their Indian investors are Kalaari Capital and Multiples Equity. Even Dream11’s product is available exclusively for use only by Indians. Only a single-digit percentage minority stake is held by Tencent,” the official added.