IPL ?||Who benefited from Anti China Gung-ho||
The Indian Premier League (IPL) 2020 title sponsor slot which had been laying vacant since 6 August was filled up last evening after fantasy gaming platform Dream11 won the rights for the upcoming edition of the world's most famous T20 League for an amount of Rs 222 crore.
"Dream11 has won the rights with a bid of Rs 222 crore," IPL chairman Brijesh Patel told PTI.
One would hope it would bring an end to the controversy surrounding the IPL title sponsor which erupted in the backdrop of the Galwan Valley clash, with China's Vivo holding the rights. But, will it?
Just as Vivo is a China-based mobile phone manufacturer, Dream11 is backed by Chinese company Tencent. The removal of Vivo and its replacement by Dream11 is being portrayed as an act of respecting public sentiment. But a closer look at these activities make it clear that this has been nothing but a pure business move.
Naturally, understanding the economics, IPL Governing Council in its meeting on 2 August decided to retain Vivo as the main sponsor. Its decision led to further outrage. The Confederation of All India Traders (CAIT) and Swadeshi Jagran Manch, an affiliate of the Rashtriya Swayamsevak Sangh (RSS), termed the decision as "insensitive" and threatened to boycott the tournament. Eventually on 6 August, with a single-line media release, BCCI informed that Vivo and the board have decided to suspend their partnership for 2020.
The media reports claimed Vivo and BCCI decided to amicably part ways keeping the anti-China sentiment in mind. Vivo pull out of IPL 2020 due to "India-China standoff" has been the common theme of the stories around the topic, though BCCI has never officially said that the decision was a result of the growing public pressure.
This should not make us overlook the fact that Dream11 has a Chinese investor behind it. It has been reported that China's Tencent invested $100 million in the fantasy sports platform in 2018 (Rs 720 crore according to exchange rate of the time). That's a significant amount of money and it ensures that the Chinese shadow continues to hang over the IPL title sponsor. If Dream11 had failed to grab the rights, Byju's with Rs 201 crore was the second-highest bidder and they also have a significant Chinese investment. Another BCCI sponsor, Paytm, also has investment from the neighbouring country.
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IPL ?||Who benefited from Anti China Gung-ho|| The Indian Premier League (IPL) 2020 title sponsor slot which had been laying vacant since 6 August was filled up last evening after fantasy gaming platform Dream11 won the rights for the upcoming edition of the world's most famous T20 League for an amount of Rs 222 crore. "Dream11 has won the rights with a bid of Rs 222 crore," IPL chairman Brijesh Patel told PTI. One would hope it would bring an end to the controversy surrounding the IPL title sponsor which erupted in the backdrop of the Galwan Valley clash, with China's Vivo holding the rights. But, will it? Just as Vivo is a China-based mobile phone manufacturer, Dream11 is backed by Chinese company Tencent. The removal of Vivo and its replacement by Dream11 is being portrayed as an act of respecting public sentiment. But a closer look at these activities make it clear that this has been nothing but a pure business move. Naturally, understanding the economics, IPL Governing Council in its meeting on 2 August decided to retain Vivo as the main sponsor. Its decision led to further outrage. The Confederation of All India Traders (CAIT) and Swadeshi Jagran Manch, an affiliate of the Rashtriya Swayamsevak Sangh (RSS), termed the decision as "insensitive" and threatened to boycott the tournament. Eventually on 6 August, with a single-line media release, BCCI informed that Vivo and the board have decided to suspend their partnership for 2020. The media reports claimed Vivo and BCCI decided to amicably part ways keeping the anti-China sentiment in mind. Vivo pull out of IPL 2020 due to "India-China standoff" has been the common theme of the stories around the topic, though BCCI has never officially said that the decision was a result of the growing public pressure. This should not make us overlook the fact that Dream11 has a Chinese investor behind it. It has been reported that China's Tencent invested $100 million in the fantasy sports platform in 2018 (Rs 720 crore according to exchange rate of the time). That's a significant amount of money and it ensures that the Chinese shadow continues to hang over the IPL title sponsor. If Dream11 had failed to grab the rights, Byju's with Rs 201 crore was the second-highest bidder and they also have a significant Chinese investment. Another BCCI sponsor, Paytm, also has investment from the neighbouring country.
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