After days of speculations ever since Vivo exited the 2020 edition of the Indian Premier League (IPL), the BCCI has finally zeroed in on a title sponsor. Online fantasy gaming website Dream11 has bagged the title sponsorship for the 2020 edition of IPL with a bid of Rs 222 crore. The gaming brand outbid Tata Sons, Unacademy and Byju's to bag the title sponsorship deal. The association that begins this month will end on December 31. The popular fantasy platform has been associated with IPL for the past few years.
The green signal to IPL caused an uproar in India because of the prevailing anti-China sentiments further compounded by the political turmoil. Calls for boycotting Chinese products intensified after 20 Indian soldiers were killed in the Galwan Valley clash on June 15. Vivo, a Chinese mobile-manufacturing company, were the title sponsors of the tournament. After the Indian government banned several Chinese apps, including TikTok, they were being questioned for its double standards.
Dream 11's Chinese connection
To clear the misconception - no, Dream 11 isn't a Chinese company. The platform that has over eight crore users on its platform allows them to play fantasy cricket, hockey, football, kabaddi and basketball, is a Mumbai-based venture. It was founded in 2008 by Harsh Jain and Bhavit Sheth.
The company has a Chinese connection, though. Reportedly, Tencent Holdings, a Chinese technology conglomerate, had invested US$ 100 million in the company in 2018. A few months later, Dream 11 became the first Indian gaming company to enter the 'Unicorn Club'. It also has other investors, such as Kalaari Capital, Think Investments, etc.
Controversy has followed Dream 11 for the last few years with its legality challenged alleging it promoted betting. In 2017, High Court deemed the operations of Dream 11 centred around skill and knowledge. Supreme Court had dismissed a challenge to the decision. However, many experts believe that the company operated around the grey area.
The company has partnered with several leagues across the world including West Indies' CPL and NBA. MS Dhoni is the company's brand ambassador. For the 2019 World Cup, Dream 11 had also roped in renowned names cricketers like Kane Williamson, Jos Buttler, Faf du Plessis, Jason Holder and a few others.
