BCCI likely to demand higher bid from Dream 11 for 2021 and 2022 title rights

Dream 11 may have won the title rights for the 2020 edition of the IPL for a sum of INR 222 crores, but the BCCI is unwilling to compromise on such a bargain for the following two years. The deal between Dream 11 and the BCCI will run up to the 31st of December 2020, and if sources within the BCCI are to be believed, Dream 11 will have to cough up a substantially higher amount to retain their title rights.

The now-suspended deal with Vivo was worth INR 440 crores of earning for the BCCI, and the latter is highly unlikely to settle on a cut-price deal for the following two years. However, the deal with Dream 11 was strategic and was not necessarily the highest bid as confirmed reportedly by a BCCI insider to PTI.

"It was always clear that the highest bidder may not get the title rights (it was specified by the BCCI before accepting the Expression of Interest from bidders)," a veteran BCCI official, privy to the development, told PTI on conditions of anonymity,” the source is reported to have confirmed.

"Having said that, Dream11 has bid the highest and are still favourites to get it, a few issues are still being ironed out before an official announcement comes," the source is supposed to have added.

The source also disclosed that the BCCI will demand that Dream 11 revisits their bid if they are to retain the rights for the subsequent seasons. "If it's for only year 2020, then Rs 222 crore works fine. But it was a conditional bid for three years. We still have our deal with Vivo on," he said. "We haven't closed it as it's a pause. If we are getting Rs 440 crore, why will we settle for Rs 240 crore?" the official asked.

[PTI inputs]