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Dream11 becomes the title sponsor of IPL 2020

Besides Dream 11, other companies in the IPL title sponsorship bid included Tata Sons, Patanjali, Byju's and Unacademy.

Dream11 becomes the title sponsor of IPL 2020
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Popular fantasy league platform, Dream 11, has been finalized as the official sponsor of the 13th season of the Indian Premier League (IPL). Dream 11 will be the main sponsor of the IPL 2020 and the information was confirmed by league chairman Brijesh Patel. 

As per reports, the BCCI had started looking for a new sponsor after suspending its contract with Vivo for a year, and it is said that both BCCI and Dream 11 will now have an agreement by December 31, 2020. Further, BCCI had laid down certain conditions while inviting tenders for sponsorship for the new season which stated that only those companies with an annual turnover of over ₹300 crores could bid. Officials had further made it clear that it would not award the sponsorship to the highest bidder and the new sponsor would be selected on the basis of how the rights-winning company would benefit the IPL brand. Many companies such as Dream 11, Tata Sons, Patanjali, Byju's and Unacademy were in the race for the IPL title sponsorship.

A few days ago, Tata Sons were leading the race. Out of this, Unacademy had tendered ₹210 crores, Tata Sons ₹180 crores and Byju's ₹125 crores. But later, Dream 11 made a bid of ₹222 crores and got the sponsorship rights for the thirteenth season.

Previously, BCCI and Vivo had signed a five-year agreement in 2018 for IPL sponsorship, and according to the agreement, Vivo had paid ₹2,199 crores to the BCCI, amounting to Rs 440 crore every year.

However, the ongoing Coronavirus outbreak raised questions over this year's IPL schedule. Moreover, with a strong demand for boycotting Chinese goods resulted in BCCI suspending the title sponsorship deal with VIVO.

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