Accoridng to the latest reports, it seems that the decision for the title sponsorship rights for the Indian Premier League (IPL) 2020 isn’t finalized yet. Despite the fact that Dream 11 has won the bidding war on Tuesday, sources have confirmed to India Today that the process of announcing the fantasy sports platform as the title sponsor of IPL is not as straightforward as it looks.
Dream11’s bid, is a conditional one for 3 years, starting from 2020 and running until 2022. However, the Board of Control for Cricket in India (BCCI) isn’t ready to sign a contract for three years. VIVO was paying the BCCI ₹440 crores annually for the 5-year deal which they bagged in 2017 by bidding ₹2,199 crores in 2017. The Chinese mobile manufacturer and BCCI suspended their deal for IPL 2020 in the wake of border tensions between India and China.
Dream11 on Tuesday emerged as the highest bidder for IPL 2020 title sponsorship with a bid of ₹222 crores. The sports fantasy platform outbid online education platforms Byju’s and Unacademy to emerge on top. Notably, Byju’s had submitted a bid of ₹201 crores while Unacademy bid ₹170 crores.
The BCCI had earlier clarified in the Expressions of Interest (EOI) on August 10 that it may not award the title rights to the highest bidder but the decision will depend on various factors that will be evaluated and examined by the board after the bidding process. The BCCI reckons that they will be able to get much more money than Dream11’s bid of ₹222 crores in 2021 and 2022.
However, Dream11 feels that unless they managed to get a three-year contract, things are not going to be easy for the company. The BCCI hasn’t yet issued a press release to confirm Dream11 as new title sponsor of IPL 2020, which will be played from September 19 to November 10 in the UAE.
BCCI’s earlier in the EOI said, “For the avoidance of doubt, it is clarified that BCCI shall not be obliged to award the Rights to the third party which indicates a willingness to pay the highest fees in the course of discussions/ negotiations with BCCI after submitting an EOI.”