IPL 2020: The Fantasy Cricket League Dream11 platform has chosen the title of the main sponsors of the tournament
Fantasy Cricket league Dream11 has been named as the main sponsors of the Indian Premier League (IPL) 2020, after the Cricket Control Board of India (BCCI) and Chinese smartphone makers Vivo suspended their contract for this year.
Dream11 outbid companies like Tata Sons,
Unacademy and Byju's for the title sponsorship deal for the cash-rich league. IPL Chairman Brigesh Patel said Dream11 is offering Rs 222 crore for sponsorship rights.
Unacademy placed a bid of Rs 210 crore, Tata Sons submitted Rs 180 crore and Byju placed a bid of Rs 125 crore.
Vivo and BCCI postponed their partnership for one year due to the prevailing border confrontation between India and China. Under the deal with Vivo, BCCI was receiving Rs 440 crore per year.
The head of the Bahrain Chamber of Commerce and Industry, Sourav Ganguly, said after the suspension of the sponsorship contract with Vivo, that it is not a financial crisis.
"I wouldn't call it a financial crisis," Ganguly said. "It's just a passing picture."
"BCCI, it's a very strong foundation - the game and the players and administrators in the past have made this game so powerful that BCCI is able to handle all these flashes," he said.
"You keep your other options open. It's like Plan A and Plan B."
The IPL was originally scheduled to start on March 29, but has been postponed due to the coronavirus pandemic.
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