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IPL Media Rights License: MSM to pay Rs 300 cr to BCCI

IPL Media Rights License: MSM to pay Rs 300 cr to BCCI

Author | exchange4media News Service | Saturday, Jun 26,2010 8:42 AM

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IPL Media Rights License: MSM to pay Rs 300 cr to BCCI

MSM Satellite (Singapore) Pte Ltd (MSMS) has been in discussions with the Board of Control for Cricket in India (BCCI) regarding the ongoing issue of the IPL Media Rights License (MRLA).

The BCCI has disclosed certain facts, hitherto not known to MSMS, that confirm that the broadcast rights were exclusively with it (the BCCI) immediately prior to and at the time of the grant of the rights by BCCI to MSMS. As such, the BCCI also stated that all monies expended by MSMS for the MRLA (including the facilitation fee) should be paid to the BCCI.

In light of these new facts, MSMS has cancelled all future payment demands that Mauritius-based World Sport Group (WSG) may make – MSMS was due to pay the balance of Rs 300 crore in eight installments spread over the next seven years of the contract and has initiated legal action in India with a view to claiming back the Rs 125 crore paid so far. A suit for recovery of monies already paid to WSG and for suitable declarations has been filed in the Bombay High Court.

In a release issued, MSMS has categorically denied any impropriety in making the initial payments to WSG, relying on representations made to MSMS at that particular point in time.

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