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Within a couple of weeks of Vivo's departure, they have announced the name of the title sponsor of this year's IPL. Dream11, the new sponsor of the IPL, the most prestigious tournament in franchise-based cricket, is a fantasy gaming app.
Indo-China relations deteriorated as a result of recent border clashes. Since then, there have been calls for a boycott of Chinese goods across India. As a result, the Chinese company Vivo finally withdrew from the title sponsorship of the Indian Premier League (IPL) on the 4th of this month. Since then, the BCCI has been looking for a new franchise.
The BCCI confirmed the matter in a statement on Tuesday. Dream11 were awarded the rights for Rs 222 crore - a heavy discount of nearly 50 percent of what Vivo were paying for the same rights (Rs 440 crore).
