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:
#Dream11 wins IPL 2020 title sponsorship.
— NV⚡😎 (@menve_s) August 18, 2020
— Tonishark (@Tonishark3) August 18, 2020
#Dream11 is the winner of IPL 2020 title sponsorship at 222 Crores..
Le Dream 11 owner rn : pic.twitter.com/IKnjScY7jJ
— Rajeev Hitman 🇮🇳 (@Hmka_join_krlo) August 18, 2020
— S🔥R (@iamsagarcastic) August 18, 2020
Dream 11 bags IPL sponsorship.
— Sanghi Captain (@CaptainIndia26) August 18, 2020
— Kisslay Jha🇮🇳 (@TrollerBabua) August 18, 2020
— Anand Singhaniya (@memer_anand_) August 18, 2020
Dream11 be like : pic.twitter.com/qfOC0YaZxz
— Abhi🇮🇳 (@memewalachokara) August 18, 2020
— Nikhil Raj 🇮🇳 (@humanoid_meme) August 18, 2020
— THE | Epic Blogger | (@Kush_official_) August 18, 2020
— Soumya Gorai (@ItzSoumyaHere) August 18, 2020
— 𝙎𝙝𝙪𝙗𝙝𝙖𝙢 𝙠𝙖𝙪𝙨𝙝𝙞𝙠 (@sniper_kaushik) August 18, 2020
Le other brands RN : pic.twitter.com/M8cuP0Rxq8
— प से…Pathey ☕ (@paa_they) August 18, 2020
Bet ke paise se sponsorship lelo… pic.twitter.com/OZvdWMPFzD
— Pun of god (@Punnajiaka) August 18, 2020
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.