The Indian Premier League(IPL) found its title sponsor for the 2020 season as fantasy sports Dream11 have made a three-year winning bid to bag the IPL title rights.
The break up of Dream 11’s winning bid is as follows: “Rs222 crore for the first year, Rs240 crore for year two and Rs 240 crore for third year, i.e., an average of Rs 234 crore per year,” said, IPL chairman Brijesh Patel in his statement to PTI.
One would hope this battle to grab the IPL Sponsorship now bring to an end which erupted in the backdrop of the Galwan Valley clash, with China’s Vivo holding the rights. But will it?
Just as Vivo is a chaina-based mobile manufacturer, Dream11 is backed by Chinese company Tencent. The removal of and its replacement by fantasy sports Dream11 is being represented as an act of respecting public sentiment. Though a closer look into this matter make it clear that this has been nothing but a pure business move.
Cricket is not only a game in India its an emotion. It often becomes the focal point when the nation is involved in a clash with any of its neighbours. Vivo being IPL’s title sponsor became a topic of conflict after the border skirmish in June between Sino-Indian border dispute in eastern Ladakh region, which resulted in 20 Indian soldiers losing their lives.
The aftermath of the border tussle was BCCI has decided to review its various sponsorship deals for IPL 2020, which has been delyed due to COVID pandemic outbreak.
A BCCI source speaking to PTI made light of the matter, claiming the Tencent only owns a minority stake in Dream11.
“Dream11 firm stakeholders, including its founders and all 400 plus employees, are Indian citizens,” the BCCI source said. “Dream11 Indian investors are Kalaari Capital and Multiples Equity. Even Dream11’s products are exclusively available for Indians only. Only a single-digit percentage minority stake is held by Tencent.”
Dream11 Company details:Dream11 is not a Chinese firm. Fantasy sports dream11, is a company worth Rs 736crore. It was a startup pioneered by Harsh Jain & Bhavit Seth in 2012. In 2019, they became the first Indian gaming company to enter the ‘ Unicorn Club.’
Dream11 have multiple investors like Think investment, Steadview, Kalaari Capital ,Multiples equity and tencent. Tencent based in Shenzhen, China is world’s largest company and has about 10 percent stakes in Dream11.
Brand Ambassadors of Dream 11:
MS Dhoni is the biggest brand ambassador of Dream11. The platform has also partnered with nine more cricketers naming- Ben Stokes, Faf du Plessis, Quinton de Kock, Jason Holder, Andre Russel, Jon Buttler and Kane Williamson from the ICC World cup 2019.
The IPL 2020 to be played from 19 September to 20 November2020 in UAE.
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