Nimbus bags BCCI TV rights for another 4 years

It would have to give a bank guarantee of Rs 2,000 crore.

Existing rights holders Nimbus Communications, which owns Neo Cricket and Neo Sports channels, today bagged television rights from the Cricket Board 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’s a T20 game, 50-over match or a Test — was taken at the Board’s marketing committee meeting held here today.

Though BCCI kept mum on the awarding of the broadcast rights from April 1, 2010 to March 31, 2014, sources in the Board said Nimbus has once again bagged the rights.

The earlier deal was originally worth $612 million. But it was reduced and reworked to $549 million on a request by Nimbus, following the government ordinance that forced the 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, 55 ODIs, is coming to an end 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’s currently with Sahara, the sources added.

Nimbus would have to give a bank guarantee of Rs 2,000 crore for the TV rights, the sources said.

“No other party was invited to the meeting, as Nimbus had the first right of refusal,” they added.