Dream11 wins IPL title rights at 50 percent discount
Dream11 have made winning bid to bag Indian Premier League (IPL) title rights. Dream 11 were awarded the rights for Rs 222 crore with a heavy discount of nearly 50 percent of what Vivo were paying for the same rights (Rs 440 crore).
Dream11 is a fantasy sports platform based in India that allows users to play fantasy cricket, hockey, football, kabaddi and basketball.
Earlier, Chinese smartphone makers Vivodecided to suspend their partnership with the BCCI mutually.Although no reason was spelt out by both the parties for terminating the partnership, theprevailing anti-China sentiment in India is expected to be the reason for it.
Multinational Group Tata Sons were considered the frontrunners while digital education technology platforms Byju's and Unacademy also in the race. Along with Dream 11, Yoga guru Baba Ramdev's Patanjali and Jio Communications were also in the fray to join the race for IPL title rights and had submitted Expression of Interest.
The IPL will be held from September 19 to November 10 in the UAE this year. "IPL 2020 will be played from September 19 and the final will be played on November 10, 2020. The 53-day tournament will witness 10-afternoon matches starting at 15:30 IST while the evening matches will start at 19:30 IST," said BCCI last week.