IPL title rights: IPL title rights: Dream11 make three-year winning bid of approx Rs 230 crore per year | Cricket News – Times of India

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MUMBAI: Fantasy sports platform Dream11 have made a three-year winning bid to bag the Indian Premier League (IPL) title rights. The fantasy sports platform – a start-up pioneered by two Indian entrepreneurs – have made a bid for three years, subject to Vivo’s return next year.
Should Vivo India – the title sponsors who exited the space two weeks ago – come back to the table next year, Dream 11 will have to make way. However, if Vivo do not return as title sponsors, the fantasy sports start-up will continue with the title rights for the next three years starting with the 2020 edition.
The break up of Dream11’s winning bid is as follows: Rs 222 crore for the first year, Rs 240 crore for year two and Rs 240 crore for year three, for an approximate average of just over Rs 230 crore per year.
It could not be confirmed if Tata Sons, who had expressed interest in the IPL title rights and had spiked the interest, came to the bidding table. E-learning start-ups Byju’s and Unacademy could not muster up the numbers either.
In the wake of all the controversy surrounding Chinese investments in Indian sports, especially cricket, the BCCI has underlined that “Dream 11, essentially, is an Indian start-up with single-digit Chinese investment that is negligible and can be resolved internally”.
The BCCI is primarily of the view that with a digital platform coming on board, it will boost IPL’s fan engagement that has been lying passive over the last few months, especially due to the Covid19-led slowdown.
TOI can confirm that Tatas were looking to make a “handsome bid” subject to certain conditions. Tatas’ primary objective was to block three categories (different brands under the group) through the title sponsorship while the BCCI had maintained that the space would invite only a single-brand activity.
“Only one category was available to block and that’s what has not worked in favour of Tatas”, sources in the know said.
Dream11’s Rs 230 crore bid is 51% of what Vivo was paying the BCCI.
“It’s a decent amount considering the prevailing market conditions. The Board will bring two more official partners – Unacademy and Cred – to the table, which means Rs 80 cr more to the kitty,” sources added.
The BCCI is, thus, on the verge of pocketing a little in excess of 300 crore.