A whole lot of noise was made yesterday as the chairman of the Indian Premier League (IPL) announced that Dream XI is the highest bidder for the IPL title sponsorship. However, no official announcement has been made as of now as the Board of Control for Cricket in India (BCCI) is expecting Dream 11 to fulfill a conditional bid requirement.
According to the requirement, the company may get the sponsorship rights for the 2021 and 2022 IPL seasons as well, if it is able to guarantee 240 crore for each year instead of just giving 222 for this year’s four months deal.
“We already made it clear in the bidding clause 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 BCCI official close to the developments told PTI.
“Dream11, having bid the highest amount are still favorites to get it, a few issues are still being ironed out before an official announcement comes,” he added.
Why settle for 222, when we can get 440?
The bidding process was initiated only after the Chinese mobile phone company VIVO pulled out of the Rs 440 IPL sponsorship deal, just before the start of the season as it and BCCI attracted a lot of negative publicity on the internet. The Chinese products have been in the line of fire of Indians post the killing of 20 Indian soldiers on the Indo-China border in Ladakh.
Therefore the BCCI official feels that if VIVO might want to come back later, then why should they settle for the Rs 222 crore bid by Dream 11 against the Rs 440 offered by VIVO?
“If it’s for the 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.
The IPL's 2020 edition will start from 19th September in UAE.