Hello, Cricket fans!! We have come up with a big news about IPL 2020. This year a lot changes are happening in this league in which one of the most important change is “IPL Title Sponsorship”. As we all know, Chinese mobile company VIVO was already owning this previously. VIVO was owning the name till 2022 but due to India-China Diplomatic tensions, BCCI suspended the deal which was of rs 440 crore.
After suspending the deal, BCCI had to again open the tender for new sponsorship. In the beginning it was all over the news that Yoga Guru Baba Ramdev’s company PATANJALI will bid for this but later he cleared that if no Indian company will came forward to bid, PATANJALI will grab the opportunity.
BCCI has also reduced the amount by 100 crores. Later, there were 4 companies in the race- “Fanatsy gaming company- DREAM 11, multinational conglomerate- TATA SONS & two educational technical companies- BYJU & UNACADEMY.
In the final process, TATA didn’t place a final bid while BYJU bid for 201 crores & UNACADEMY bid for 170 crore. But DREAM 11 won the race with an amount of 222 crore & replaced the Mobile company VIVO. However this deal will only be applied till december 2020. Now this will be interesting to see that VIVO will come back in the race or will be out for couple of years.
By wining the sponsorship race, DREAM 11 came into limelight. The other reason can also be more