IPL ||IPL new sponsor also has Chinese link||
The Indian Premier League (IPL) 2020 title sponsor slot which had been laying vacant since 6 August was filled up last evening after fantasy gaming platform Dream11 won the rights for the upcoming edition of the world's most famous T20 League for an amount of Rs 222 crore.
"Dream11 has won the rights with a bid of Rs 222 crore," IPL chairman Brijesh Patel told PTI.
One would hope it would bring an end to the controversy surrounding the IPL title sponsor which erupted in the backdrop of the Galwan Valley clash, with China's Vivo holding the rights. But, will it?
Just as Vivo is a China-based mobile phone manufacturer, Dream11 is backed by Chinese company Tencent. The removal of Vivo and its replacement by Dream11 is being portrayed as an act of respecting public sentiment. But a closer look at these activities make it clear that this has been nothing but a pure business move.
The decision to let go of Vivo, however, was never going to be easy. The Chinese mobile phone makers acquired the title sponsorship rights for IPL in 2018 for a whopping Rs 2,199 crore for a period of five years. BCCI was earmarked to make Rs 439.80 crore every year from Vivo.
Naturally, understanding the economics, IPL Governing Council in its meeting on 2 August decided to retainVivo as the main sponsor. Its decision led to further outrage. The Confederation of All India Traders (CAIT) and Swadeshi Jagran Manch, an affiliate of the Rashtriya Swayamsevak Sangh (RSS), termed the decision as "insensitive" and threatened to boycott the tournament. Eventually on 6 August, with a single-line media release, BCCI informed that Vivo and the board have decided to suspend their partnership for 2020.
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IPL ||IPL new sponsor also has Chinese link|| The Indian Premier League (IPL) 2020 title sponsor slot which had been laying vacant since 6 August was filled up last evening after fantasy gaming platform Dream11 won the rights for the upcoming edition of the world's most famous T20 League for an amount of Rs 222 crore. "Dream11 has won the rights with a bid of Rs 222 crore," IPL chairman Brijesh Patel told PTI. One would hope it would bring an end to the controversy surrounding the IPL title sponsor which erupted in the backdrop of the Galwan Valley clash, with China's Vivo holding the rights. But, will it? Just as Vivo is a China-based mobile phone manufacturer, Dream11 is backed by Chinese company Tencent. The removal of Vivo and its replacement by Dream11 is being portrayed as an act of respecting public sentiment. But a closer look at these activities make it clear that this has been nothing but a pure business move. The decision to let go of Vivo, however, was never going to be easy. The Chinese mobile phone makers acquired the title sponsorship rights for IPL in 2018 for a whopping Rs 2,199 crore for a period of five years. BCCI was earmarked to make Rs 439.80 crore every year from Vivo. Naturally, understanding the economics, IPL Governing Council in its meeting on 2 August decided to retainVivo as the main sponsor. Its decision led to further outrage. The Confederation of All India Traders (CAIT) and Swadeshi Jagran Manch, an affiliate of the Rashtriya Swayamsevak Sangh (RSS), termed the decision as "insensitive" and threatened to boycott the tournament. Eventually on 6 August, with a single-line media release, BCCI informed that Vivo and the board have decided to suspend their partnership for 2020.