Looks like the Board of Control for Cricket in India (BCCI) is really walking the talk. Amidst the anti China mood in the country (BCCI) had suspended its title sponsorship deal with Vivo for IPL 2020. This was after following the Indo-China clash in the Galwan valley – where 20 Indian soldiers attained martyrdom. Now, Fantasy gaming platform Dream 11 is the title sponsor for the upcoming Indian premier League.
The Chinese mobile manufacturer had signed a deal in 2018 for 5 years. While the BCCI received Rs 440 crore from Vivo, Dream 11 will pay BCCI 222 crore for the upcoming edition – which will be played in the UAE from September 19 to November 10.
Dream11 will pay Rs 222 crore for the rights. The rights are valid until December 31, 2020.
The other bidders were Byju’s (Rs 201 crore) and Unacademy (Rs 170 crore)
The pressure was on BCCI to let go of Vivo as a title sponsor after the Indian government banned 59 Chinese apps in India.
“Taking note of the border skirmish that resulted in the martyrdom of our brave jawans, the IPL Governing Council has convened a meeting next week to review IPL’s various sponsorship deals,” BCCI said in a tweet posted on June 19.
Indian Premier League (IPL) chairman Brijesh Patel confirmed that Dream 11 will pay BCCI Rs 222 crore. It has been reported that while the Tata group didn’t place a final bid, two education technology companies — BYJUs (201 crore) and Unacademy (170 crore) — came second and third respectively.
The challenge for the BCCI was to find a new sponsor with not much time left for the 13th edition. However, given the popularity of IPL, many brands were keen and showed interest in replacing Vivo as the title sponsor. Since the title sponsorship deal for the 2020 season will be for a period of just a few months, the BCCI had to seal a deal which was close to 50% of what it received from Vivo.
About Dream 11
Dream11 is a fantasy sports platform based in India that allows users to play fantasy cricket, hockey, football, kabaddi and basketball. In April 2019, Dream11 became the first Indian gaming company to enter the ‘Unicorn Club.
Dream11 was co-founded by Harsh Jain and Bhavit Sheth in 2012. In 2012, they introduced freemium fantasy sports in India for cricket fans. In 2014, the company reported 1 million registered users, which grew to 2 million in 2016 and to 4 million in 2018.
It is a member of the Fantasy Sports Trade Association (FSTA) and is the founding member of the Indian Federation of Sports Gaming (IFSG). In April 2019, Steadview Capital completed secondary investment in Dream11. Apart from Steadview, Dream11’s investors included Kalaari Capital, Think Investments, Multiples Equity and Tencent.
In June 2018, Dream11 reported that it has 4 million users, up from 2 million users in 2017. The company also made to the list and ranked 9 among India’s Great Mid-Size Workplaces – 2018. Dream11 was also recognised as one of the top 10 innovative companies in India by Fast Company in 2019.