Fantasy cricket platform Dream 11 has bagged the title sponsorship for IPL 2020 with a winning bid of INR 222 crore, IPL chairman Brijesh Patel said.
The breakup of Dream11's winning bid is as follows: Rs 222 crore for the first year, Rs 240 crore for year two and Rs 240 crore for year three, for an average of Rs 234 crore per year.
Dream 11 clinched the deal beating Unacademy who did the bidding of rupees 171 crores and Byju's with rupees 201 crores. VIVO had signed a five-year deal in 2018 worth INR 2199 crore, which earned BCCI about INR 440 crore a season.
A Crickbuzz report states, according to the revenue sharing agreement between BCCI and IPL franchise owners in 2018, the teams earned 50 percent of the income from the central rights – including broadcast, title, and other sponsorship deals struck by the board. This means approximately INR 111 crore will be split between the franchises for this season, as opposed to twice the amount (INR 220 crore) per season since VIVO signed up.