"Fantasy sports platform Dream11 wins IPL title sponsorship rights with a bid of ₹222 crore," IPL Chairman Brijesh Patel told PTI. Dream11 will hold the rights for four months and 13 days.
Multinational conglomerate Tata Group and education technology company Unacademy were also in the fray for the rights but Dream11 had outbid them.
The IPL will be held from September 19 to November 10 in the UAE this year. Vivo, which annually paid ₹440 crore, dropped out as title sponsor this year due to the Sino-India border stand-off.
"IPL 2020 will be played from September 19 and the final will be played on November 10, 2020. The 53-day tournament will witness 10-afternoon matches starting at 15:30 IST while the evening matches will start at 19:30 IST," said BCCI last week.
The IPL was originally slated to be played from March 29, but it was postponed due to the coronavirus pandemic.
On August 10, the Board of Control for Cricket in India (BCCI) had sent out invitations to third parties to express their interest (EOI) in acquiring the title sponsorship rights for IPL 2020.