Dream11 has won the race to be the title sponsor of the IPL for three year term till 2022, subjected the Vivo’s return in the later editions. The average bid for the time duration is of Rs 234 crore per year in which Rs 222 crore is for the IPL 2020, Rs 240 crore for the IPL 2021 and Rs 240 crore for the IPL 2022. With the new title sponsor BCCI is expecting to boost the fan engagement which has been on a silent mode since last few months because of the Covid-19 pandemic.
In the bidding the Indian fantasy sports startup outbidded the big names who were associated with the bidding like Unacademy (Rs 210 crore), Tata Sons (Rs 180 crore) and Byjus (Rs 125 crore). Earlier the BCCI has set the cut-off turnover for the bidding companies of Rs 300 crore to apply for the bidding for the duration of 18th August,2020 to 31st December,2020.
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