Dream 11 is a fantasy sports platform based in India has become the Title Sponsors for IPL for the year 2020. It also allows users to play fantasy cricket, football, kabaddi, hockey, and basketball. Co-founded by Harsh Jain and Bhavit Sheth in 2008, their market value has grown to a humongous level and that has given them the money to bid on.
Board of Control for Cricket in India is the governing body for cricket in India. BCCI’s headquarters is in Mumbai with Sourav Ganguly, the former Indian captain, as the President. The operating income of BCCI is said to be Rs 18,000 crores and the board is responsible for any form of official cricketing being played in India. Some of the famous tournaments include IPL, Ranji Trophy, Deodhar Trophy, Vijay Hazare trophy, etc.
The Indian Premier League, founded by BCCI in 2008, is played between March-May every year. This is recognized as the top league in Cricket surpassing the Big Bash League (BBL) of Australia, Caribbean Premier League (CPL) of West Indies, and more. Each and every cricketers’ aim would be playing IPL because of the standard and exposure they get here. The international cricketing calendar would freeze for these 2 months and very few to no international matches will be played.
The brand value of IPL stood at $6.8 billion in 2019 up 7% from 2018, according to consultancy firm Duff and Phelps.
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Title Sponsorship Battle
Due to Indo-Chinese outrage and #BoycottChinese on the trend list, current Title sponsors Vivo backed off who were paying around Rs 450 crores. The BCCI had very little time to select their title sponsor and started a bid for the aforementioned post. Many have shown interest in this but the real contenders were Unacademy, Byjus, Dream 11, and Tata Sons.
Here is the bid amount from each companies:
- Dream 11 – Rs. 250 crore
- Unacademy – Rs. 210 crore
- Tata Sons – Rs. 180 crore
- Byjus – Rs. 125 crore
Dream 11’s Bid
The breakup of Dream 11‘s bid is Rs. 222 crore for the first year and if Vivo cannot continue as the title sponsors, Dream 11 should spend Rs. 240 crore for the second year and the same in the third year too.