New Delhi: The Board of Control for Cricket in India (BCCI) declared Tuesday that fantasy gaming sports platform Dream11 has swapped away the Vivo as the title sponsor for the 2020 Indian Premier League (IPL). It is going to be held in the UAE from September to November.
Dream11 was already among the many sponsors of the IPL, and won the title sponsorship rights with a bid of Rs 222 crore for a four-and-a-half-month deal
Dream 11 is a fantasy sports platform situated in India. That is for players to play fantasy cricket, kabaddi, football. Dream11 became the first Indian gaming company to enter the Unicorn club in April 2019. Dream11 is the title sponsor for the Indian Premier League.
Dream11 was co-founded by Harsh Jain and Bhavit Sheth in 2012. They introduced freemium fantasy sports in India for cricket fans. In 2014, the company reported 1 million registered users, which grew to 2 million in 2016 and 4 million in 2018.
The BCCI’s five-year deal contracted with Chinese mobile phone manufacturer Vivo in 2018. This deal was adjourned due to the ongoing strains between India and China. Vivo’s commitment of Rs 440 crore per year was nearly double of what Dream11 has bid now.
The overall deal signed with the BCCI was worth over Rs 2,000 crore.
It was earlier reported that Baba Ramdev’s Patanjali Ayurved and Jim also attempted for title sponsorship.
In the past, Dream11 has partnered with the International Hockey Federation (FIH), Hero Indian Super League (ISL), International Cricket Council (ICC), BCCI, Pro Kabaddi League, and the US’ National Basketball Association (NBA), among many other sporting organizations.