IPL title sponsor: Dream 11 replaces Vivo as sponsor of the IPL 2020 title, to pay BCCI Rs 222 crore
Fantasy gaming sports network Dream 11 has replaced Vivo as Indian Premier League (IPL) 2020 . Title sponsor to be played at UAE.
Dream 11 was revealed Tuesday by the Control Board for Cricket in India ( BCCI) as the official title sponsor for the upcoming Indian Premier League (IPL) edition . The move comes after Vivo-the Chinese smartphone maker . Which had signed a 5-year contract in 2018, was recently suspended by the Indian board of title sponsors . While the BCCI received Rs 440 crore from Vivo . Dream XI will pay BCCI 222 crore for the upcoming edition-to be played in the UAE . Which is played between September 19 and November 10 .
Brijesh Patel, the Chairman of the Indian Premier League ( IPL), announced that Dream 11 will pay BCCI Rs 222 crore . Two educational technology companies— BYJUs (201 crore) . Unacademy (170 crore)— came in second and third respectively . While the Tata group didn’t put a final bid . The challenge for the BCCI was to find a new sponsor for the 13th edition, with not much time left . However, given IPL ‘s popularity, many brands were keen to replace Vivo as the title sponsor, and showed interest . Since the 2020 season title sponsorship deal will be for just a few months . The BCCI had to seal a deal that was close to 50 percent of what it got from Vivo .
The deal also comes as a big blow to all eight franchises . As the Indian board shares 50 percent of the total amount of all eight franchises it receives from the title sponsor . Although all eight franchises earned Rs 55 crore each at IPL 2019 . The franchises will have to settle for the upcoming season for an sum of Rs 27.75 crore apiece .
How BCCI suspended Vivo contract
The decision was taken shortly after Vivo ‘s title sponsorship contract with the BCCI . Which had been suspended for IPL 2020 following the Indo-China conflict in the Galwan Valley .Where 20 Indian soldiers were martyred . The burden was on BCCI to let go of Vivo as title sponsor after 59 Chinese apps were banned in India by the Indian Government .
Soon after the incident in Galwan Valley occurred . BCCI took to social media to confirm that it would review its sponsorship deal .
“Taking note of the border skirmish that resulted in our brave jawans being martyred . The IPL Governing Council convened a meeting next week to review the various sponsorship deals made by IPL,” . BCCI said in a tweet posted on June 19 .
However, the BCCI had retained Vivo as the title sponsor after the IPL Governing Council meeting that was recently concluded . It caused public outrage, and given the country ‘s feelings against Chinese brands and products, the BCCI finally had to suspend the deal with Vivo.As title sponsor for IPL 2021 Vivo is expected to make a comeback.