The Star Group acquired the broadcast and digital rights of India’s international cricket matches at home-place for 6 years time-period after bidding an exciting Rs 3851 crore(approximately $750 million). Watch Live Cricket Streaming Online.
The Rupert-Murdoch-owned company conquered the competition from Multi Screen Media (Sony) to gain the rights for all international matches at home and domestic events such as Ranji Trophy, Duleep Trophy and the Irani Trophy which begins from July 2012 till March 2018.
The six-year contract of the company is worth Rs 3851 crore and will be involving 96 matches. On an average it would be coughing up Rs 40 crore per match on an average that Nimbus was paying the BCCI before its contract was discontinued last year because of the default in payments.
The two companies to make the bids were Star and Multi Screen Media (Sony), with a total of 5 who had also filed the tenders.
BCCI President N Srinivasan after making the announcement told the reporters, “The BCCI is extremely satisfied with the deal. The media rights have been assessed and priced with Star coming out with such a deal.”
Multi Screen Media (Sony) was the second highest bidder, bidding Rs 3700 crore.
Uday Shankar who is the Star Group’s India CEO assured that the company would be providing proper telecast of the matches.
He told, “I express deep gratitude to BCCI for giving Star the broadcast rights. In cooperation with our partners ESPN, we will do a worthy job.”
He added, “The channels are already acquired by us. But the number of matches demand, then there is always an option of launching a new channel.”
A certain price has been set up by BCCI for category A games at Rs31.25 crore per match (approx $6.1 million) plus Rs1 crore (approx $0.2 million). Whereas category B games has been priced at Rs 34 crore (approx $6.67 million) plus Rs1 crore.
Fresh tenders were called by the BCCI after the cancellation of Nimbus’ contract because of financial status of the company. The four-year ended deal beginning 2010, was estimated at Rs 2000crores ($379.5 million).
The issue was referred for further judgement with Bombay High Court ordering that Nimbus should give a deposit of Rs305 crore (approx $60 million) with the court as security for the given amount the BCCI demands it is owed by the company.
A counter-claim of Rs600 crore (approx $118 million) has been made by Nimbus from the board. Earlier the board couldn’t attempt to sell the internet rights separately last year as the base price of Rs 3 crore and reduced price of Rs2 crore found no takers in return.
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