The Indian Premier League (IPL) on Thursday revealed its logo for the upcoming 2020 edition in UAE featuring tournament’s new title sponsor Dream11.
Fantasy sports platform Dream11 has been announced as the new title sponsors for the Indian Premier League 2020. Dream11 won the rights with a bid of Rs 222 crore in Tuesday’s bidding process.
Notably, the BCCI and Chinese mobile manufacturer VIVO decided to suspend the IPL title sponsorship rights for 2020 over raising border tensions between India and China.
IPL took to it’s official Instagram handle to share the picture of its new logo with the hashtag “#Dream11IPL”, and asked fans how they liked it.
Defending champions Mumbai Indians, who will arrive in UAE for the 13th edition of IPL on Friday and will the opening match of the upcoming season on September 19, also shared the logo on their Instagram, and wrote: “Now taking guard, #Dream11IPL”.
Dream11 on Tuesday emerged as the highest bidder for IPL 2020 title sponsorship with a bid of Rs 222 crore. The sports fantasy platform outbid online education platforms Byju’s and Unacademy to emerge on top. Notably, Byju’s had submitted a bid of Rs 201 crore while Unacademy bid Rs 170 crore.
However, BCCI was not willing to agree to a 3-year conditional bid as it feels it might be able to get much more money than Rs 222 crore in 2021 and 2022. While market analysts had predicted a dip in the money for IPL 2020 title sponsorship due to the novel coronavirus pandemic, the BCCI is looking forward to better things in 2021 and 2022.
