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Update Dream11 bags IPL 2020 title sponsorship rights for Rs 222 crores

Dream11 has won the race for IPL 2020 title sponsorship rights, the tournament's chairman Brijesh Patel confirmed on Wednesday. The online fantasy gaming application won the title rights for Rs. 222 crores.

The IPL title rights were up for grabs after Vivo, which annually paid Rs 440 crore, dropped out as title sponsor this year due to the Sino-India border stand-off.

The BCCI floated a new tender for the IPL title sponsors as mandated by its constitution. The glitzy T20 league starts on September 19 in the UAE, forced out of India due to the rising COVID-19 cases.

It was learnt that Tata group didn't place a final bid while two education technology companies -- BYJUs (201 crore) and Unacademy (170 crore) -- came second and third respectively.

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