BCCI (Board of Control for Cricket) in India has made the announcement on Tuesday i,e August 18 about replacing the title sponsorship of IPL 2020 form Vivo to the Dream11. The fantasy gaming company has made its winning for the investment of Rs. 222 crore.
BCCI has suspended the Chinese company, Vivo’s five-year contract which was signed back in the year 2018. The decision comes after India-China’s violent face-off at the Galwan Valley. On the other side, the Dream11 company makes its win for the title sponsorship for the investment of Rs. 222 crore for a four-and-a-half-month deal. Vivo’s commitment budget was approx the double amount as that of the Dream11, which is Rs. 440 crore.
For the unversed, earlier there were reports that Baba Ramdev’s company, Patanjali would bid for the title sponsorship for the upcoming IPL. Other concomitants title sponsorship were Unacademy(which made the bid of Rs 210 crore), the Tata group(which made a bid of Rs 180 crore), and Byju’s(which made a bid of Rs 125 crore).
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Also Read: IPL 2020: Baba Ramdev’s Patanjali Considers Bidding For Title Sponsorship