IPL 2021: Dream11 promoter declares, ’we will not accept anymore Chinese funding’

IPL 2021 / IPL 2021 Dream11 / Dream11 Official Fantasy Partner of IPL / VIVO IPL 2021 / Indian Premier League

IPL 2021 – Dream11: The official fantasy partner of the 14th edition of the Indian Premier League (IPL 2021), Dream11 has declared that in future they won’t raise funds from Chinese investors. According to Harsh Jain, the promoters of Dream11 have taken this call to never raise any monies from Chinese funds again.

“We are not looking to raise money ever again from Chinese investors. We are in a unique position of being a product that is made in India, only by Indians and by Indians”, Harsh Jain was quoted by Economic Times.

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It is worth noting that lot of fingers were raised on Dream11 due to investments of Chinese funds like Tencent in the company. Owing to anti-China sentiment, Dream11 has decided to stay away from anymore Chinese investments.

According to the report by ET, Dream11 is currently closing a $300 Million in investment round. Abu Dhabi’s Alpha Wave Incubation managed by Falcon Edge and few more investors will enter company’s cap-table, providing an early exit to the investors.

IPL 2021: Dream11 back as IPL Official fantasy partner after VIVO turns down title sponsorship offer

IPL 2021 – Dream11 back as IPL Official Partner: Meanwhile as reported earlier by InsideSport.co, Dream11’s attempt to hold on to the title sponsorship of the Indian Premier League could not materialize. The leading fantasy company had made an offer of 250 Cr to VIVO which the later did not accept. But the good thing is as per its understanding with BCCI, Dream11 will stay put in IPL 2021 as its Official Fantasy Partner.

According to Jain, Dream11 will again consider bidding for the IPL Title rights whenever next they come into the market.

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Dream11 tried retaining the title sponsorship rights for IPL 2021 and even made an offer to VIVO. The deal could not materialize as offer of 250 Cr per annum was far below the expectations of incumbent VIVO. Now, Dream11 has decided to retain its previous sponsorship position as Official Fantasy Partner of the league.

So as reported earlier, VIVO will stay put as a title sponsor and Dream11 will move back to its original position of IPL’s Official Fantasy Partner