New Delhi: Sports fantasy platform Dream11 has bought the Indian Premier League (IPL) title rights for three years with some terms and conditions. The IPL-13 rights are certain, but whether or not Dream11 holds the rights for the next two years will depend on whether Vivo returns next year. Chinese mobile company Vivo separated from the IPL two weeks ago.
If Chinese mobile company Vivo comes back, Dream11 will have to leave the path for it. However, if Vivo does not return as the title sponsor, the sports start-up will retain the rights for the next two years in addition to the IPL of 2020.
The Dream 11 bid went like this - Rs 222 crore for the first year, Rs 240 crore for the second year and Rs 240 crore for the third year as well. The average bid was Rs 234 crore.
It is not clear whether Tata Sons bid to make IPL's title sponsorship interesting. E-learning start ups Byju’s and the academy were also in the running but could not win.
In the atmosphere against Chinese investment in Indian sports, there was a lot of pressure on the sports administration, especially the BCCI. The BCCI has clarified that Dream11 is an Indian start up with Chinese investment in units that can be ignored and the solution can also be found among themselves.
It is learned that Tata was a bidder with a hefty amount but had certain conditions. Tata's first demand was that he wanted to block slots for three categories (three separate brands of the group) but the BCCI has already decided that the space will be for single-brand activity. Sources said, “The slot can be booked only for one category and this did not go in favour of Tata.”
The amount that Dream XI is giving to BCCI is half of Vivo. The source said, “Given the current market situation, this money is fine.” The Indian board will also add two more official partners - Unacademy and CRED - which means it will get 80 crore more. BCCI will get more than 300 crores according to this.
Co-Founder and CEO of Myteam11 Fantasy Sports Pvt. Ltd, Vinit Godara congratulate to Dream11. He said on Dream11's title sponsorship deal for IPL, “I would like to congratulate fantasy cricket league platform Dream11 on winning the title sponsorship rights of IPL 2020. I think this is a big moment for the entire fantasy gaming fraternity. Fantasy gaming is one of the swiftest growing online businesses to thrive in recent times. I think this is the moment of arrival and fantasy gaming has finally got its due of being the game where the fans get the right platform to engage and be the closest to the game.”