On Tuesday, 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.
Dream 11 was already one of the official partners of the IPL starting from 2019 and also looks after the Official Fantasy Game of IPL.
Difference between central and title sponsors
The central sponsorship doesn’t include jersey rights. In IPL, jersey logo can only be of title sponsor and apart from that various team’s sponsors. If they become title sponsors, it will give them rights on various branding properties.