New sponsorship for IPL 2020 is confirmed Dream 11
After so many controversies between India and China, BCCI has removed the Chinese company, Vivo, from the title sponsorship of #IPL. Now, Dream 11, a fantasy gaming platform, has won the IPL title sponsorship with a bid of Rs 222 crores. The contract for #Dream11 is for four and a half months, starting from 18 August and ending on 31 December. The company has been part of the IPLsponsorship panel for the last 2 years.
According to the reports, Tata sons was also in the queue but did not bid for the last round. On the other side, two more education technology companies Byju's (210 crores) and Unacademy (170 crores) were on the second and third positions respectively in the bidding race.
BCCI has already ended the contract with the mobile company, VIVO after the martyrdom of Indian soldiers at "Galwan Valley". Now, the deal of sponsorship has been fixed with Dream11 in place of VIVO for IPL 2020. But it is found that another Chinese tech company, Tencent, has also invested Rs 720 crores in Dream11 in 2018.
BCCI claims that there are only 10% shares of Tencent in Dream11. Also, Dream11 is an Indian company and its both the founders, Harsh Jain and Bhavit Seth, are Indians. Dream11 is only for Indian users.