New Delhi, Sept. 5 -- Days after inviting bids to replace Dream11 as the new lead sponsor for Team India, the Board of Control for Cricket in India (BCCI) has raised the valuation for sponsoring the Indian cricket team, reported Cricbuzz on Friday.

The report added that the BCCI has set the new reserve price at Rs.3.5 crore for bilateral matches and around Rs.1.5 crore for multilateral fixtures, particularly in the ICC and ACC competitions.

Citing industry sources, the report added that the figures are slightly higher than the current rates of Rs.3.17 crore for bilateral games and Rs.1.12 crore for multilateral matches.

The BCCI is targeting a minimum valuation uplift of over 10 percent for the bilateral contests and around three perce...