New Delhi, August 19
They have received the IPL title rights for this season however whether or not the fantasy gaming platform Dream11 holds on to that for the subsequent two editions will depend upon how excessive they increase the bid because the BCCI is unwilling to accept the present supply.
According to BCCI sources, that is exactly the rationale why the board has not but formally introduced Dream11 as IPL title rights holder regardless that league chairman Brijesh Patel confirmed this on Tuesday.
The firm changed Chinese cell phone producer Vivo, which needed to pull out for this season due to the Sino-India border stand-off.
Sources stated the BCCI and Dream11 have been nonetheless negotiating on the conditional three-year bid below which the corporate is meant to pay Rs 240 crore every in 2021 and 2022 if Vivo does not make a comeback with its yearly Rs 440 crore deal.
“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, aware of the event, advised PTI on circumstances of anonymity.
“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,” he added.
It is learnt that the BCCI was in discussions with Dream11 to revisit their second and third-year bids and needed them to extend the quantities.
“If it’s for only 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 stated.
“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 requested.
In this situation, Dream11 has two choices – both to simply accept a one-year or fairly 4 months 13 days deal of Rs 222 crore or improve the conditional quantity for 2021 and 2022, which is their discretion. PTI