BCCI official suggests that Dream11 are not yet title rights holders for IPL 2020

The Board of Control for Cricket in India (BCCI) hasn’t yet announced Dream11 as IPL’s title rights holder despite the fantasy gaming platform having made a three-year winning bid.

This is because the BCCI and Dream11 are still working on the deal. It is still unclear what will happen if original title sponsors Vivo returns next season with its Rs 440 crore per year deal.

IPL Governing Council chairman Brijesh Patel confirmed on Tuesday that Dream11 had replaced Chinese mobile phone manufacturing giant Vivo as the IPL title sponsors for this season due to the ongoing Sino-India border stand-off. The fantasy gaming platform will pay Rs 222 crore this year and Rs 240 crore each in 2021 and 2022, but everything is subject to Vivo’s return.

"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)...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," a veteran BCCI official, in the know of development, told PTI on conditions of anonymity.

Why settle for anything less: BCCI official on Dream11 deal

Vivo initially had a yearly deal of Rs 440 crore for 5 years. Credits: Free Press Journal

It is understood that negotiations are in progress for Dream11 to rework their second and third-year bids with the BCCI wanting a raise in the bidding amount.

"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. 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.

In the present situation, Dream11 can either pay Rs 222 crore for fourth months and 13 days this year or increase the conditional amount for the two subsequent seasons and be IPL’s official title rights holder.