IPL Sponsors: My11Circle surprises by outbidding Dream11 in IPL fantasy games category, reshaping sponsorship dynamics and setting the stage for an enthralling season.
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Introduction: IPL Sponsors
In a surprising turn of events, My11Circle has emerged victorious over Dream11 in the bidding war for the fantasy games category in the Indian Premier League (IPL). The bidding process, which concluded on Wednesday, witnessed My11Circle securing the associate sponsorship, also known as Official Partners (OPs), with a staggering bid of INR 625 crore for five seasons, surpassing Dream11’s bid by over INR 110 crore.
Dream11, a longstanding associate of the Board of Control for Cricket in India (BCCI) and the IPL, had submitted a bid of INR 515 crore for five seasons. However, My11Circle’s aggressive bid of INR 625 crore, equivalent to INR 125 crore per season, has not only shocked but also reshaped the dynamics of the fantasy gaming segment within the IPL.
The victory of My11Circle, a brand endorsed by cricketing icons such as Sourav Ganguly and Shubman Gill, among others, has raised eyebrows and garnered significant attention from IPL enthusiasts. Dream11, being the frontrunner in the fantasy games category for years, faced an unexpected defeat at the hands of My11Circle’s substantial investment in the IPL.
In addition to the fantasy games category, other associate sponsorship slots have also seen notable developments. Angel One, a prominent stockbroker firm, outbid Groww in the online category with a bid of INR 82 crore, while Rupay, an online financial and payment system, secured the third Official Partner (OP) slot with a bid of INR 70 crore.
However, CEAT, the Indian tyre manufacturer, retained its strategic timeout sponsorship with a payment of INR 48 crore per season, although it will not be considered an OP.
Despite the significant progress in filling the associate sponsorship slots, the IPL still has three more OP slots to fill – for umpires, Orange Cap, and Purple Cap – with no bidders found yet. Interestingly, Aramco and Saudi Tourism, previous Saudi sponsors involved in the IPL, did not participate in the bidding process, despite obtaining Invitation to Tender (ITT) documents. However, industry insiders speculate that they may still come on board for the remaining slots.
The BCCI had announced the release of Request for Quotation for Official Partner Rights for the IPL on January 29, with Tata Sons serving as the title sponsors of the league.
Conclusion: IPL Sponsors
Overall, the recent bidding outcomes have not only reshaped the sponsorship landscape of the IPL but also underscored the intense competition and growing commercial interest surrounding one of the most prestigious cricket tournaments globally. With My11Circle’s surprising triumph over Dream11, the upcoming IPL seasons promise to be even more enthralling both on and off the field.
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