InvestorQ : Is it now official that Dream 11 will be the official sponsor for the IPO 2020?
rhea Babu made post

Is it now official that Dream 11 will be the official sponsor for the IPO 2020?

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Riya Dwivedi answered.
3 months ago
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Yes it is now official that Dream11 will be the title sponsor for IPL 2020. It is a fantasy cricket app and is quite popular among young Indians. The sponsorship deal is worth Rs.222 crore and was necessitated after Vivo opted to take a break from sponsorship.

Incidentally, this is lower than the Vivo bid and Dream11 also counts China’s Tencent among its major investors. The BCCI was looking for a domestic entity as opposed to a Chinese entity like Vivo considering the fluid border situation.

The sponsorship commitment of Dream11 is nearly half of what Vivo was offering. The tournament is expected to be conducted in the UAE between Sep 19 and Nov 10 this year. The tournament will be held in the UAE from September 19, 2020, to November 10, 2020.

Other marquee names like the Tata Group, Patanjali, Unacademy and Reliance Jio were also in the fray for the title sponsor before Dream11 emerged the most eligible bidder.

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