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Saturday, September 26, 2020

Dream11 bags IPL 2020 title sponsorship rights, netizens react with memes

The fantasy sports portal was trending on Twitter soon after it was announced as the title sponsor of the IPL and people shared memes about how they felt.

By: Trends Desk | New Delhi | Updated: August 19, 2020 11:05:16 am
ipl 2020, IPL title sponsorship, IPL title sponsorship bidding dream 11 IPL title sponsorship, ipl 2020 title vivo suspended, ipl 2020 memes, cricket news, sports news, indian expressThe winning bidder will hold the rights for four months and 13 days.

After mobile phone manufacturer Vivo exited as the title sponsor of the Indian Premier League, the cash-rich T20 league finally got a new sponsor after Dream 11 won the bidding game. The fantasy sports portal was trending on Twitter soon after and people shared memes about how they felt.

The IPL governing council chairman Brijesh Patel confirmed to The Indian Express that Dream11 is the title sponsor of the 2020 IPL and the sponsorship amount is Rs 222 crore.

Two edu-tech companies — BYJUs and Unacademy were also in the bidding race but came second (201 crore) and third (170 crore) respectively. It was learnt that the Tata group, which had reportedly considered joining the bidding process didn’t even place a final bid.

As this piece points out, Dream11 has Chinese internet giant Tencent Holdings Ltd as one of its financial backers. Last year, it became India’s first gaming startup to be valued at over $1 billion. And the BCCI is stressing on the fact that Dream11 is an Indian company.

Here’s how people reacted to the news of the new title sponsor:

Vivo and BCCI was believed to have postponed a Rs 440 crore-per-year deal for one year due to the prevailing Sino-India border stand-off, but as this piece explains it was more than that.

The IPL will be held from September 19 to November 10 in the UAE this year and the winning bidder will hold the rights for four months and 13 days.

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