Mumbai: Afraid that they may have to buy back Harbhajan Singh later for a higher price in an auction if they release him now, Mumbai Indians have decided to retain the off-spinner after intense backroom negotiations.

The BCCI had asked IPL franchises to submit a list of players they wished to retain ahead of the players’ auction for IPL-VI. Harbhajan had led the Mumbai Indians to the CLT20 title in 2011 but failed to live up to expectations in IPL-V last year.

“There were intense negotiations about whether to retain Bhajji or release him as he cost a lot of money and had not been very effective as a captain last season. But finally, it was decided to give him another chance,” said an RIL source.