Fantasy sports platform Dream11 has bagged the Indian Premier League's title sponsorship rights after a winning bid of Rs 222 crore. Learning platforms Byju's and Unacademy lost out after bids of Rs 201 crore and Rs 171 crore respectively.
"This is what (the amount) we expected," Brijesh Patel, IPL Governing Council Chairman, told DH on Tuesday. "Given that it's only for this edition and lasts only for four months, we are happy with what we got."
TATAs, who had bought the Expression of Interest document, didn't participate in the bidding process, Brijesh said.
BCCI had invited bids for the title rights of the delayed 13th edition after the Chinese mobile manufacturers Vivo and the Indian Board mutually suspended their contract for 2020 after the "boycott Chinese" calls following border clashes between the Indian and PLA troops.
Dream11 would be paying less than half of what Vivo were paying on a yearly basis after winning the rights for five seasons in 2018 for a whopping Rs 2,190 crore, which worked out to approximately Rs 440 crore per year.
The 2020 IPL was moved away from India due to the large number of Covid-19 cases in the country. The tournament will be held in the UAE from Sept. 19 to Nov. 10.