BCCI is unwilling to settle for the current offer:
Dream11 has won the 2020 Indian Premier League title sponsorship but whether it holds on the sponsorship for the next two seasons will totally depend on how high they can increase the bid as the Indian Cricket Board (BCCI) is unsatisfied to settle for the present offer.
As per the sources of BCCI, this is the reason why BCCI has not declared officially that Dream11 as the 2020 IPL title rights holder even though Brijesh Patel, the IPL chairman confirmed the same on Tuesday (18-08-2020).
Dream11 replaced the Chinese handset firm Vivo, which had dismissed its partnership with BCCI for this season due to the Sino-India border war.
As per the Sources:
According to the sources, Dream11 and BCCI are still discussing the provisional three-years bid under which the firm is supposed to give Rs. 240 crore in each year in 2021 as well as in 2022 in case Vivo doesn’t like to come back with its earlier deal of Rs. 440 crore.
On the conditions of anonymity, a senior BCCI official said “Always it was clear that the highest bidding organization may not get the IPL title sponsorship. It was conveyed by BCCI before accepting the Expression of Interest from the bidding organizations.”
He added, “Dream11 has bid the highest amount and favorites to get the title sponsorship of this season, but still some issues being ironed out before any official declaration by BCCI.”
According to the report, BCCI is discussing with Dream11 to reconsider their second as well as third-year bids and wants them to raise the bidding amount.
He added “If the bidding amount is only for the year 2020, then Rs. 222 Crore is fine. But if the bidding amount is for three years, then we have our deal with Vivo will be on. We have not closed the deal as it is just a pause. If we are getting Rs. 440 crore, they why we accept Rs. 240 cror.?”
In this circumstance, Dream11 has only two options- either they have to accept for the 2020 year only or four months 13 days for Rs. 222 crore or raise the bidding amount for the year 2021 and 2022.
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