BCCI's reason for not making IPL 2020 title sponsor announcement official yet revealed

The suspense around the new Indian Premier League (IPL 2020) sponsor finally ended on Tuesday with IPL chairman Brijesh Patel revealing that online fantasy gaming giants Dream11 bagging the title sponsorship rights for the IPL 2020 season. The IPL Dream 11 deal is reported to be ₹222 crore, outbidding BJYU's, who had bid for ₹201 crore and UnAcademy for ₹171 crore.

Also Read: CAIT Writes To BCCI Opposing IPL Title Sponsor

Why Dream11 was chosen as IPL sponsors?  

Dream11 is already a big name in the world of cricket as they are not only associated with at least six IPL teams for IPL 2020 but also with the International Cricket Council and that could be the reason behind the IPL Dream11 deal. Moreover, Dream11 will also be one of the leading IPL sponsors on the digital live streaming of IPL 2020 with Disney+ Hotstar. When all these deals are put together, Dream11’s advertising investments on IPL 2020 is all set to cross an enormous figure of ₹500 crore. 

Also Read: Dream11's IPL 2020 Title Sponsorship Excites First-ever Brand Ambassador Harsha Bhogle

IPL 2020: Why BCCI is yet to officially announce the IPL Dream11 deal? 

Despite supposedly winning the IPL 2020 title rights, there are still concerns over Dream11 remaining IPL sponsors for the next two editions as all this will depend on how high they raise the bid as the BCCI is unwilling to settle for the current offer. According to the report by PTI, BCCI sources have said that the bidding issue is the reason why the board has not yet officially announced Dream11 as IPL title rights holder even though league chairman Brijesh Patel confirmed this on Tuesday to news agencies.

Also Read: Dream11 As IPL 2020 Title Sponsor Not In Line With PM's 'Atma Nirbhar' Call: CAB Secretary

The source further said that Dream11 has bid the highest and are still favourites to get it, however, a few issues are still being ironed out before an official announcement comes. He added that BCCI and Dream11 are still negotiating on the conditional three-year bid under which the company is supposed to pay ₹240 crore each in 2021 and 2022 if VIVO doesn’t make a comeback with its yearly ₹440 crore deal. The official further said that if it’s for only 2020, then ₹222 crore would be alright.

Also Read: Dream11 Set To Invest MASSIVE ₹500 Crore In IPL 2020 Including Title Sponsorship?

IPL 2020 dates and schedule

Coming to IPL 2020 dates, the tournament is scheduled to start from September 19 with the final taking place on November 10. The IPL 2020 matches will be played in Dubai, Sharjah and Abu Dhabi. The tournament was earlier scheduled to start on March 29 but the BCCI decided to postpone the tournament due to the COVID-19 pandemic.

(COVER IMAGE: DREAM11 / IPL/ TWITTER)