The Indian Premier League (IPL) has unveiled the new logo for the upcoming Dream11 IPL in United Arab Emirates (UAE) from September 19-November 10.

Dream11 emerged as the top bidders for IPL 2020 title sponsorship with a reported bid of INR 222 crore. BCCI confirmed the deal on Wednesday (August 19).

IPL posted the new logo in their Instagram stories and asked fans for their opinions.

According to sources, Dream11 were eyeing a three-year deal with IPL but the board was 'uninterested' due to the low bid.

ALSO READ: BCCI announces Dream11 as the title sponsors for IPL 13 only

"BCCI had said that this will be a one-year deal but Dream11 wanted to have it for three years. Dream11 has offered Rs 222 crore for this year, Rs 240 crore for the next year and Rs 240 crore for the third year," sources said.

"But the BCCI said that after the Covid-19 pandemic gets over, they are expected to get a good amount next year, so can't commit for the future. The board also said if Vivo backs out again, then Dream11 will be given the first preference.

"There was discussion going on and that's why the official announcement got delayed. But now everything is sorted out and they both have agreed to one year only. BCCI may soon issue the statement," the source added.

Defending champions Mumbai Indians (MI) also shared the logo on their social media accounts.

(With IANS inputs)