On Tuesday, Indian Premier League (IPL) Chairman Brijesh Patel announced that fantasy gaming platform Dream XI would be the title sponsor of the IPL. They will pay Rs 222 crore. It’s not clear how long the deal will be.
Vivo was paying Rs 440 crore annually to the BCCI in a five-year contact that began in 2018. It was also spending Rs 150 crore during the two-month event.
The BCCI was looking at a lesser value — between Rs 300 to 350 crore — for a period of four months and 13 days.
So, here's all you need to know about the newest IPL sponsors:
Dream 11 was already one of the official partners of the IPL starting from 2019.
Dream 11 also looks after the Official Fantasy Game of IPL.
Dream 11 is also a legalised betting app.
IPL's newest sponsor is funded by Tencent - a Chinese multinational company which deals in various internet-related services.
BCCI and Vivo had also suspended the title sponsorship rights for this year's IPL after there was a huge outcry for boycotting Chinese products after 20 Indian Army personnel, including a Colonel, were killed in the violent face-off between Indian and Chinese troops in June.
The tournament will be held in the UAE from September 19, 2020, to November 10, 2020 and will be staged at three venues (Dubai, Abu Dhabi, and Sharjah) in the UAE.
Moreover, both the afternoon and evening matches will be played half-an-hour earlier than usual.
"IPL 2020 will be played from September 19 and the final will be played on November 10, 2020. The 53-day tournament will witness 10-afternoon matches starting at 15:30 IST while the evening matches will start at 19:30 IST," the BCCI release had stated.