Dream11 has got a three-year winning bid to bag the IPL (Indian Premier League) title rights. The biggest fantasy sports platform by two Indian entrepreneurs made a bid for three years, despite Vivo’s return next year.
Reports say if Vivo India, who exited the game hardly two weeks ago, comes back on the IPL title sponsorship table, then Dream11 may have to make its way. However, if Vivo does not return, Dream11 will continue to hold all the rights for IPL title sponsorship.
The Dream11’s winning bid is- Rs. 222 crore for 1st year, Rs.240 crore for 2nd year and 3rd year. On average, it will be Rs. 234 crore per year.
For a long time, Vivo has been participating and holding all the rights for IPL sponsorship, but recently after the China boycott campaign, Vivo had to escape the sports ground as well.
As it is a controversial matter of the moment, the BCCI came forward and cleared that “Dream 11, essentially, is an Indian start-up with single-digit Chinese investment that is negligible and can be resolved internally”. Source: Times of India.
One of the sources said- “Only one category was available to block and that’s what has not worked in favor of Tatas,” Source: Times of India.
Dream11’s Rs.230 crore is the 51% of what exactly Vivo was paying for the IPL sponsorship to the BCCI.
Further, the source added- “It’s a decent amount considering the prevailing market conditions. The Board will bring two more official partners – Unacademy and Cred – to the table, which means Rs 80 cr more to the kitty,” Source: Times of India.
At the moment, the BCCI is on the verge of pocketing a little more of Rs. 300 crore.
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Source: Times of India