Under the new arrangement, Dream11 will hold the league’s title rights from now until December 31 after submitting a winning bid of Rs 222 crore.
Mobile manufacturers Vivo India exited IPL in the wake of developments surrounding India and China only for this season, thus making way for an EOI that saw Dream11 stepping in.
“Dream11 upgrading their association from an official partner to title sponsors is a great testament to brand IPL,” IPL GC chairman Brijesh Patel said.
In January 2021, BCCI will take a fresh call on title sponsorship depending on whether Vivo returns to the fold or doesn’t. If Vivo does not return to the IPL, the Board will either negotiate with Dream11 to upsell or float a fresh tender for the 2021 and 2022 editions.
Dream11, for the record, has shown interest in continuing for the remaining two years, subject to Vivo not returning. To that effect, they submitted a bid of Rs 240 cr per year for two years, outside of the Rs 222 crore bid for this edition.
BCCI, nevertheless, has maintained that the call will only be taken early next year.
Dream11 is presently partnering a total of 19 sports leagues in India and overseas, alongside being sponsors with six IPL franchises.
“The launch of IPL in 2008 gave birth to the idea of Dream11. We are happy to continue building our partnership with BCCI & IPL,” Dream11 co-founder Harsh Jain said.