NEW DELHI: Online fantasy sports platform Dream11 has won a three-year bid to sponsor the IPL. This is subject to Vivo’s return as a sponsor next year. This means that if Vivo wants to return as the title sponsor next year, Dream 11 will have to make way for this Chinese smartphone manufacturer. On the other hand, if Vivo does not return next year, then Dream 11 will continue to be the IPL’s title sponsor for three years the IPL’s 2022 edition.
Dream 11 is to pay Rs.222 crore for the first year, Rs.240 crore each for year two and three. The average cost is Rs.234 crore per month.
Dream11 piped online companies like E-learning startup Byju’s and Unacademy for sponsorship rights.
Vivo had to go as the IPL title sponsor due to the prevalent backlash against Chinese companies operating in India. Dream 11 fits the bill as it had only ‘single-digit’ Chinese investment which the BCCI said, ‘could be resolved internally’.
Moreover, Dream11 can increase the IPL fan engagement which was passive from the time the tournament was supposed to be held.
Dream 11’s bid is approximately 51% of what Vivo was paying to the BCCI.
However, this does not mean others cannot be a sponsor to the IPL. Unacademy and others can still sponsor the IPL in other capacities.
The total sponsorship garnered by the BCCI would give them a substantial Rs.300 crore in its kitty.