Nimbus retains BCCI TV rights for four more years

Rights holders Nimbus Communications, which owns Neo Cricket and Neo Sports channels, retained the television rights of the Board of Control for Cricket in India for four more years for a whopping Rs 2000 crore.

The decision to award the rights to Nimbus, who will pay the BCCI Rs 31.5 crore per international match -- whether it is a T20, 50-over or Test match -- was taken at the Board's marketing committee meeting, in Mumbai, on Tuesday.

Though the BCCI is mum on granting of the television broadcast rights from April 1, 2010, to March 31, 2014, sources in the Board said Nimbus had again bagged them.

The earlier deal was originally worth US $612 million, but it was reduced and reworked to US $549 million on a request from Nimbus following the government ordinance that forced rights holders to give compulsory feed of sports events of national importance to Doordarshan.

The previous agreement between BCCI and Nimbus, which featured 23 Tests and 55 ODIs ends at the conclusion of the Indian squad's home series of Tests (3) and ODIs (5) against South Africa.

The BCCI's marketing committee also decided to float fresh tenders for the team sponsorship rights that are currently with Sahara, the sources added.

Nimbus will have to give a bank guarantee of Rs 2000 crore for the TV rights.

"No other party was invited to the meeting as Nimbus had the first right of refusal," the sources added.