Indian Premier League (IPL) is one of the major sports events across the world that always remains in the headlines for thrilling matches and interesting auctions. Fans not only wait for the matches to watch in stadiums or at home but also for auctions of players, sponsorships, and official partners.Â
My11Circle has made headlines in the recent auction for being official partners by bidding Rs 125 crores per year for a period of five years. The auction was done on Wednesday (February 21st, 2024), in which My11Circle surprised many people by outbidding Dream11 as the official partner of IPL for the next five years. It was surprising because Dream11 is the leading fantasy sports platform in India. Also, Dream11 has been involved with BCCI and IPL for a long time.
Dream11 was also involved in the auction and bid Rs 103 crores per season for the upcoming five years. Unfortunately, it lagged behind My11Circle by Rs 10 crores to become the official partner of IPL for 5 years. My11Circle has been competing with Dream11 to succeed in the fantasy sports gaming market for many years.
Sourav Ganguly, former captain of the Indian cricket team, is the brand ambassador of My11Circle, which is one of the main reasons for the popularity of this platform. Now that My11Circle has become the official partner of IPL for 5 years, its popularity will increase further, and it can come ahead in the competition of fantasy sports.
There are 6 categories of official partners in the IPL, but only one company can be signed for a specific category. Dream11 has gained immense popularity from the IPL, but this time, My11Circle has won the bid for 5 years in the fantasy sports category.
In the online category, Angel One Broking became the official partner of the IPL for 5 seasons by bidding Rs 82 crores per season. Groww was the second-top bidder in this category, offering Rs 76 crores per season. Rupay was selected as the official partner of the IPL for the financial cards category by bidding Rs 70 crores per season for three years. There was no competition in this category because no other companies were involved in bidding.
CEAT will continue its sponsorship of the strategic time-out for the next five years, and it will pay BCCI Rs 48 crores per season. CEAT is already the sponsor of the strategic time-out in the IPL, and it did not face any competition this time to become the sponsor again.
Three official partners of IPL have not been finalized yet because there was no bidder. Aramco and Saudi Tourism were invited for the bidding, but they were abstained. They are the top sponsors of the IPL, and there is still a possibility for them to collaborate with the BCCI. Other brands can also come forward to become the official partners of the IPL in the purple cap, orange cap, and umpires category.
Keep following The Gaming Newz for the latest updates and news from the gaming industry!
