In 2018, Chinese telecom company VIVO signed a 5-year deal with the Indian Premier League (IPL) for Rs.2,199 Crore which earned the popular Indian sporting league around Rs.440 Crore per season but due to VIVO invoking the Force Majeure clause in their contract to withdraw from IPL 2020, BCCI was let scrambling at the last minute to get a new sponsor for the upcoming season.
IPL 2020 is scheduled to take place between 19 Sep to 10 Nov 2020 and today was the day when we’d know the outcome of the sponsorship deal for the IPL 2020 season. Eventually, IPL Chairman Brijesh Patel broke the news that fantasy gaming giant Dream11 went on to win the bid for IPL 2020 title sponsor and to be honest, it wasn’t too surprising.
Over the years, Dream11 has seen monumental growth and is a clear leader in the fantasy sports industry, having also tied up with IPL for the first time a couple of years back. Now, they went on to upgrade themselves from associate sponsor to title sponsor for IPL 2020, beating bids from Unacademy (Rs.171 crore) and Byju’s (Rs.201 crore) to clinch the deal, which will run from 18 Aug to 31 Dec 2020.
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As per reports, the different franchises get 50% of the income earned from central rights which include broadcast, title and other sponsorship deals signed by BCCI. If we go by those numbers, the teams shared around Rs.220 Crore per season prior to this and they will have to settle for nearly half the amount in IPL 2020 – Rs.111 Crore.
There’s just around 5 weeks left until the start of the IPL 2020 and there’s going to be plenty of heavy advertising and branding in the build up to this most awaited season of India’s premier T20 league, which will take place in UAE this year because of the coronavirus concerns. For more updates on this story, stay tuned to ReadScoops.com…
